BY Bloomberg news
Friday, December 07, 2012
12/07/12 at 2:09 AM
Aerospace sales rise of 2.8 percent forecast
U.S. aerospace sales will rise 2.8 percent to $223.6 billion next year, led by demand for commercial aircraft, an industry trade group predicted this week.
The Aerospace Industries Association projected the increase from an estimated $217.9 billion in revenue this year in its year-end review and annual forecast. An 11 percent rise in commercial airplane sales in 2013 is predicted to make up for a decline in orders for military jets and missiles amid cuts in defense spending, the group said.
"The overall projections for 2013 are generally positive - excluding the domestic military market - and illustrate the health of the industry," the Arlington, Va.-based group said in its report. "The defense sector appears to be the most problematic in 2013 and beyond, particularly with respect to the domestic market."
The association, whose members include Lockheed Martin Corp., Boeing Co., Northrop Grumman Corp., and Raytheon Co., has led the U.S. defense industry in lobbying against Pentagon budget cuts.