U.S. Aerospace Industry generates 1.2 million jobs...nets $118.5 billion export sales

 

In 2012, the U.S. aerospace industry contributed $118.5 billion in export sales to the U.S. economy.  The industry’s positive trade balance of $70.5 billion is the largest trade surplus of any manufacturing industry and came from exporting 64.3 percent of all aerospace production.
Foreign firms are attracted to the U.S. aerospace market because it is the largest in the world and has a skilled and hospitable workforce, extensive distribution systems, diverse offerings, and strong support at the local and national level for policy and promotion.  According to a recent study by the U.S. Department of Commerce, aerospace exports directly and indirectly support more jobs than the export of any other commodity.  The U.S. aerospace industry directly employs about 500,000 workers in scientific and technical jobs across the nation and supports more than 700,000 jobs in related fields.  Investment in the U.S. aerospace industry is facilitated by a large pool of well-trained machinists, aerospace engineers, and other highly-skilled workers with experience in the aerospace industry.
Industry estimates indicate that the annual increase in the number of large commercial airplanes during the next 20 years will be 3.5 percent per year for a total of 34,000 valued at $4.5 trillion (list prices).