The Aerospace Industries Association released a report that indicates that the aerospace and defense (A&D) industry recorded $874B in revenues, contribute $90.6B in exports and employed 2.09M workers in 2020 despite business/ job losses from the COVID-19 pandemic. The industry represented 1.8 percent, or about $382B, of the total U.S. GDP; made $59B in combined tax contributions, and issued $218.6B in compensation, accounting for 2 percent of the total labor income. According to the report, military aircraft, missiles, space systems and other defense aerospace products accounted for 15 percent ($13.7B), of all A&D exports in 2020. Defense non-aerospace products, including ships, tracked vehicles and artillery represented 5 percent ($4.1B) of the total annual A&D exports. (Source: Executive.gov 09/20/21) Aerospace & Defense Industry Recorded $874B in 2020 Revenue; AIA’s Eric Fanning Quoted (Executivegov.com 09/20/21) Gulf Coast Note: Many of those industries are scattered all across the Gulf Coast and include companies such as Airbus Helicopters, Inc and HII-Pascagoula in Mississippi' Austal USA in Alabama, and NASA's Michoud facility in Louisiana. Aerospace & Defense Industry Recorded $874B in 2020 Revenue; AIA’s Eric Fanning Quoted (executivegov.com)
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