Key economic indicators for the aerospace industry show the sector is on pace to have its best year in terms of orders and shipments in more than a decade.
Statistics compiled by the AIA’s Aerospace Research Center show aircraft and parts new orders and shipments significantly increased in the first half of 2005. The numbers also include search and navigation instruments and include both the civil and defense sides of the industry.
AIA President and CEO John Douglass said the statistics, coupled with employment increases in the same time period, reflect a period of sustained growth.
“These numbers reflect a robust industry and we are confident the good results will continue through the rest of the year,” Douglass said.
The industry logged $98.9 billion in net new orders through June, which would put it on pace for $197.7 billion for the year. That compares to $164.9 billion in 2004 and would be well ahead of 2000’s $166 billion — the best year for net new orders since 1992.
There were $83.5 billion in shipments through June, which would result in $167 billion by the end of 2005 if the trend continues. That outpaces the $158 billion in 2004, which is the best year on record since 1992.
The backlog of unfilled orders also showed an increase, sitting at $228.7 billion at the end of June. In 2004 it ended at $213.3 billion, and the previous high was $221.2 billion in 1997.
Full statistics are available on the AIA Web page at http://www.aia-aerospace.org/stats/aero_stats/aero_stats.cfm
Founded in 1919, the Aerospace Industries Association represents the nation’s leading manufacturers and suppliers of civil, military, and business aircraft, helicopters, unmanned aerial vehicles, space systems, aircraft engines, materiel, and related components, equipment services, and information technology.
