Key Takeaways
- The global aerospace and defense market was valued at $814.8 billion in 2023 and is projected to reach $1,089.5 billion by 2030, growing at a CAGR of 4.2%.
- U.S. aerospace and defense industry revenue reached $424 billion in 2023, accounting for 52% of the global market.
- Commercial aviation segment of aerospace market generated $452 billion in 2023, while defense was $362 billion.
- Lockheed Martin reported $67.6 billion in net sales for 2023, with Aeronautics segment at $27.9 billion.
- Boeing's defense, space & security division generated $25.6 billion in revenue in 2023, down 10% YoY.
- RTX (Raytheon) achieved $68.9 billion total revenue in 2023, with Collins Aerospace at $27.3 billion.
- U.S. aerospace and defense industry employed 2.2 million people directly in 2023.
- Aerospace manufacturing workforce in the U.S. grew by 4.7% to 1.1 million in 2023.
- 45% of U.S. A&D jobs require STEM skills, with 320,000 engineers employed in 2023.
- Global A&D R&D spending reached $135 billion in 2023, with U.S. at $75 billion.
- Hypersonic weapons R&D investments by U.S. DoD hit $4.7 billion in FY2023.
- Space domain awareness tech R&D funded at $1.2 billion by DARPA in 2023.
- U.S. DoD FY2024 budget for RDT&E is $145 billion, 14.5% of total $997 billion.
- Top 100 defense contractors received $465 billion in U.S. contracts in FY2023.
- Lockheed Martin secured $58.2 billion in U.S. DoD contracts in FY2023.
The global aerospace and defense market is a massive, growing industry valued at over $814 billion.
Employment and Workforce
Employment and Workforce Interpretation
Government Contracts and Spending
Government Contracts and Spending Interpretation
Major Companies and Performance
Major Companies and Performance Interpretation
Market Size and Revenue
Market Size and Revenue Interpretation
R&D and Innovation
R&D and Innovation Interpretation
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