Arlington, VA – A new report commissioned by the Aerospace Industries Association (AIA) and prepared by PwC reveals the U.S. commercial aerospace industry’s substantial impact on the national economy, highlighting its role as a critical engine of innovation, employment, and a positive trade balance.
“The American commercial aerospace industry drives economic growth by every measure,” said Eric Fanning, AIA President and CEO. “From creating well-paying jobs, to investing in cutting-edge research and development, to supporting a healthy supply chain, our industry is a success story across the board. Our new report makes clear the need for a strong policy and trade framework that protects and promotes this high-value, export-driven sector for the long term.”
Key findings include:
- Employment: 1.6 million jobs supported, with 545,400 directly in aerospace.
- Labor Income: $157.2 billion in total labor income, with $79.5 billion directly earned by aerospace workers.
- Economic Output: $545.2 billion in total output, including $306.9 billion in aerospace products.
- GDP Contribution: $284.1 billion total, with $151.1 billion directly from the industry.
- Tax Revenue: $54 billion in total tax contributions.
- Infrastructure and Production Capacity: $2.9 billion invested in infrastructure and $8.4 billion invested in expanded production capacity.
- R&D Investment: $34.5 billion invested annually in innovative research and development.
- Trade balance: Aerospace products and parts are the only manufacturing sector to maintain a trade balance, with the exception of petroleum and coal products.
Read the full report here. Learn more about the aerospace and defense industry’s impact here.
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