Aerospace Sees Continued Growth in 2011

Overall sales are expected to hit a new high of $216.5 billion this year, rising to nearly $220 billion next year, the Aerospace Industries Association said in its annual year-end review and forecast.

The industry has chalked up year-over-year growth since 2004. In 2009, total U.S. aerospace sales were $214.5 billion.

Commercial aircraft sales slipped this year, but this was more than offset by military aircraft sales, which continued a boom that has caused them to nearly double since 2000.

The industry's civil aerospace category includes commercial, business and general aviation aircraft as well as non-military helicopters, aircraft engines and related parts.

Civil sales dropped nearly six percent in 2010 to $48.2 billion. A rebound is expected in 2011, but its size will hinge on such things as the economy overall, jet fuel prices, aircraft financing availability and environmental regulations, the trade group said.

Military aircraft sales hit $64.5 billion this year, up eight percent from 2009, "but this breakneck pace is likely to ease considerably in the coming years" amid possible cuts in the Pentagon's budget as part of federal deficit reduction, the association said.

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