Sep 23, 2017
The outlook for the aerospace and defense (A&D) industry is very good right now, with strong growth being spurred by a number of factors including rising global tensions, increased air travel, and recent mergers of a number of A&D companies.
The predicted growth is expected to not only boost A&D companies, but should also benefit contractor companies that supply the military with products such as high-tech weaponry and defense systems, and businesses and manufacturers that support air transportation services.
Industry Reported Higher Revenues Last Year
According to the new “Aerospace manufacturing attractive rankings” report by PWC.com, A&D reported stronger revenues and profits last year. The top 100 companies alone made $709 in revenue in 2016, a 3% increase over the prior year.
The demand for air travel was also up for the second consecutive year in a row, by 6% over 2015, when it was up 5% over 2014. The production of large commercial aircraft reportedly increased by more than 40% during the 5-year period from 2011 to 2016, and is forecast to continue to rise.
U.S. Ranks First Globally for Aerospace Manufacturing
Globally, the U.S. ranked first for aerospace manufacturing and far surpassed other countries in industry performance, the report said. The nation led manufacturing for several reasons, including its strong air transportation infrastructure and stable economy. Switzerland moved up three spots to take second place, followed by the UK, Australia and Canada, in order of ranking.
According to the report, the U.S. had 1,710 aircraft, engine, and parts manufacturing companies and $212 billion in annual revenue in 2016.
Dixie Southern Is Your Custom Steel Fabricator
At Dixie-Southern, we have extensive experience manufacturing fabricated steel for use in the aerospace and defense industry. We are honored to be considered a leader in custom steel fabrication for the industry and take pride in manufacturing all of our products in America. To learn more about our products or if you need a custom steel-fabricated product, contact us today or request a quote now!
© 2020 Dixie-Southern. All Rights Reserved.