“(Reuters) – U.S. aerospace and arms companies are poised for sales growth in 2013 for what would be their 10th straight year, even as the Pentagon prepares to cut its purchases as much as 10 percent, the industry’s chief trade group said Wednesday.
One of the economy’s bright spots, these companies continued to lead the United States in the net export of manufactured goods, buoyed by strong civil aircraft sales, the Aerospace Industries Association said.
Exports rose to an estimated $95.5 billion this year from $85.3 billion last year and are likely to grow during “at least the next several years” based on order backlogs, the AIA said in its annual year-end review and forecast publication.
Civil aircraft, engines and parts represent about 88 percent of all aerospace exports and about $9 billion of the increase in overall exports in 2012, the report said.
China, a prominent growth market, could account for 20 percent of all global business jet deliveries by the end of the decade, up from 7 percent now, AIA cited estimates as showing.
Overall sales are projected to have risen 3.4 percent this year from $210.8 billion in 2011 to $217.9 billion, it said.”
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