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Taking Advantage of Trends Within the US Aerospace Industry

By Connor Lokar on May 22, 2024

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Connor Lokar

As a millennial, Connor brings a new perspective to the world of economics, delivering ITR’s industry-leading accuracy to current C-suite executives while forging connections with the next generation of business leaders.

The latest activity data from the Federal Reserve shows that while overall manufacturing output in the US is down 0.4% year over year, the aerospace industry is growing robustly. Average US Aerospace Products and Parts Production during the 12 months through March was up a robust 8.5% from one year earlier, and Production has essentially returned to the pre-COVID level of activity.

How long can the growth trend last? To answer this question for the nondefense side of the industry, we need to consider the economic context of the US consumer. With an interest rate of less than 4% and personal income gains outstripping inflation, the consumer has been in the mood to travel despite the headlines. In the May Business Series Webinar, Connor will provide an analysis of the strength of that consumer spending base and how it is translating to activity within the aerospace industry. He will also address whether a downturn is probable or if firms should plan for ongoing growth over the next few years.

The webinar will also include the defense side of the industry. US Defense and Space Equipment Production, which includes defense aircraft and parts, is at a record-high level of activity, and the rise is accelerating. Using the hard data, Connor will investigate some of the causal drivers of defense aircraft activity, such as increased geopolitical uncertainty, and how they are driving spending patterns on defense aircraft.

Finally, industry bellwether Boeing has made headlines lately for a variety of reasons. How is Boeing’s performance likely to impact overall industry activity? Join us for the May 2024 Business Series Webinar as we help unpack these and other issues, enabling you to prepare your business for what’s to come.

 

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