The aerospace and defense sector could see $217.9 billion in sales for 2012, representing a 3.4 increase from 2011 and marking the 10th straight year of growth in the sector, according to an industry analysis.
The Aerospace Industries Association, a trade group representing several large defense contractors, released its projections Wednesday on both financial and employment figures for the industry during 2012.
Civil aircraft sales will help exports from $85.3 billion in 2011 to around $95.5 billion in 2012, AIA President and CEO Marion Blakey said.
According to the association, Blakey announced the findings at the association's year-end luncheon and said the numbers were encouraging despite the potential impacts of sequestration on the sector.
Positive trade balance grew from $55.8 billion in 2011 to around $63.5 billion in 2012, the AIA said.
Aerospace employment grew from 625,000 at the end of 2011 to more than 629,000 in the last quarter of 2012, according to the association.