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U.S. Aerospace Industry Sets Record Sales for 1999
Washington - December 20, 1999 - According to figures released at the Aerospace Industries Association's 35th Annual Year-End Review and Forecast Luncheon today, the U.S. aerospace industry posted record sales of $155 billion during 1999. AIA President and CEO John W. Douglass said this boom was driven largely by the civil aircraft sector, in particular, commercial jetliners. Speaking to approximately 400 media, industry and government representatives, Douglass said the aerospace industry's trade surplus in 1999 will likely post the highest trade balance of all industry categories, even though its total of $40 billion is projected to be down two percent from last year. AIA's analysis also showed gains in military aircraft sales, from $34.1 billion in 1998 to $35.8 billion in 1999. Douglass said DOD's funding for aircraft procurement, which rose from $14 billion in FY '96 to just under $16 billion in FY '99, along with increased foreign sales of fighters and military helicopters in 1999, pushed military sales up. Commercial space generated $7.1 billion in sales in 1999, up by $962 million from last year, despite a 41 per cent drop in exports. Due to the current system of handling export licensing for commercial satellites through the State Department's munitions list instead of the Commerce Department, exports of satellites, spacecraft, and parts is projected to drop from $670 million in 1998 to $395 million in 1999. Douglass said this showed that ``Export licensing remains a crisis for this industry.'' He said AIA will press for modernizing the export control licensing system in the election campaign next year. The industry also posted record profits -- $10.8 billion -- for the year. Douglass said that this was the fourth year in a row the aerospace industry has earned profits in excess of $7 billion. In 2000, AIA's statistical report forecasts total aerospace sales declining $6 billion to $149 billion, primarily a result of decreased sales of commercial aircraft. However, this decline will be balanced by increased sales in space, military aircraft and missiles. Douglass predicted that the downturn in commercial aircraft sales should level off and then rise again in 2001 or 2002, noting that the Asian market is predicted to strengthen, fueling demand for new planes, and that new military programs entering production in the next few years should boost the defense sector. Commercial space will continue to grow, he said, adding that all these factors will contribute to aerospace industry's long-term growth. Related Links
Mars Delayed, Not Lost
Cameron Park - December 20, 1999 - In the previous two installments of this series, I discussed the possible causes of the Mars Polar Lander failure, and whether in combination with the MCO failure and others, it indicated that NASA should consider ditching its philosophy of "better faster cheaper". |
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