The Outlook for the U.S. Aerospace Industry
Total industry sales have increased steadily over the last decade and are expected to reach $200 billion by the end of the decade. The outlook for the U.S. aerospace industry is excellent.
The Boeing Company forecasts that over the next 20 years there is a market for 28,600 new commercial airplanes worth $2.1 trillion dollars. Development of the new 787 Dreamliner aircraft and the nation's continued economic prosperity is boosting Boeing's order book, and that of Airbus, its European competitor that has hundreds of suppliers in the United States.
The U.S. aerospace and defense industry proudly serves our nation's men and women in uniform who depend on the best that the industry can produce to carry out their mission across the globe.
Young people making career choices today may be among the very lucky who are first to go back to the moon and explore other planets - challenging our best and brightest to a new frontier of innovation.
The industry remains financially and technologically sound and, thanks to years of hard work and a dedicated quest for new efficiencies, more competitive than it has ever been.
Not to say that there won't be challenges ahead. Today's industry is smaller and leaner than it was in the peak years of the 1980s. Competition in the global aerospace market is intensifying as traditional rivals upgrade their technical capabilities, invest in research and development, team and partner, and newly aerospace-competent nations seek a share of the market. The aerospace industry is very much a global industry with operations and employees across the globe.
Technological superiority, however, will keep the U.S. aerospace industry competitive with products that are unequalled anywhere else in the world. This means new products that perform better while staying safer, more reliable, more environmentally friendly, and more affordable.
Attracting people to careers in aerospace will do more than almost anything else to keep the U.S. aerospace industry a world leader.
Strap on your parachute and take a ride with the U.S. aerospace industry!