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2014 aerospace & defense industry outlook
Trends in global aerospace and defense
The Deloitte Touche Tohmatsu Limited Global Manufacturing Industry group has released this year’s Global aerospace and defense industry outlook, which shows that revenue growth in the 5 percent range is expected for the overall industry in 2014. The commercial aerospace sector is expected to continue its significant revenue and earnings growth, with record setting production both at the platform level, as well as in the supplier base. On the other hand, continued declines in revenue and earnings are expected for the global defense sector.
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- Revenue growth in the 5 percent range is expected for the overall Aerospace and Defense (A&D) industry in 2014.
- Global revenues for defense companies are on a downward trend, declining 1.3 percent in 2012 and 1.9 percent in 2011. It is anticipated for 2013, global revenues for defense companies will track to similar levels in the past two years, around an estimated minus 2.5 percent.
- Global defense spending is declining, resulting mainly from reduced armed conflict in Iraq and Afghanistan and affordability concerns in many traditional militarily active governments. However, defense spending is increasing in several areas of the globe, especially in the Middle East, India, China, Russia, South Korea, Brazil, and Japan.
- 2014 will likely bring high single to double-digit levels of growth in the commercial aerospace sub-sector.