Aerospace & Defense Industry Overview

Companies that manufacture and/or distribute aerospace or defense products and/or provide aerospace or defense services.

Summary

The aerospace and defense industry was struggling to maintain profitability even before September 11, and fears of further terrorism, the conflicts in Afghanistan and Iraq, and a weak economy combined to devastate the commercial aerospace industry over the next couple of years.

The space market is made up of two primary segments: satellites and rocket manufacturing and launch services. The major players include Boeing, Lockheed Martin, Northrop Grumman, Alcatel Space, Astrium, Orbital Sciences, and Arianespace.

Full Aerospace & Defense Industry Description

Emergence of “Micro Jet” Airplanes

Several companies are introducing smaller, more affordable planes designed to provide passengers more efficient travel. This emerging market is driven primarily by business travelers' dissatisfaction with flying conditions, large airports, and increased security. Several new aerospace companies have introduced air taxi services that transport travelers from point to point, avoiding commercial aviation’s hub-and-spoke system. Eclipse Aviation, Honda Motor Company, and Safire Aircraft have all tested micro jets that seat four to eight and two crew members and are more affordable than commercially available jets.

Full Aerospace & Defense Industry Trends

• Butler National Corporation
• Environmental Tectonics Corporation
• Finmeccanica SpA

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Aerospace & Defense maps to a number of NAICS codes including:

Full Aerospace & Defense Industry Codes

• Aerospace Industries Association
  
• American Institute of Aeronautics and Astronautics
  
• International Association of Machinists and Aerospace Workers
  

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