The US production of air and spacecraft and related machinery has shown an overall positive growth trend from 2013 to 2023. The value stood at $289.42 billion in 2023, reflecting a 1.86% year-on-year increase from 2022. The CAGR over the last five years (2018-2023) was 1.85%, indicating a moderate yet steady expansion. Notably, the production experienced fluctuations, with a significant dip in 2016 (-6.79% year-on-year) and a slower growth phase in 2020 (-2.6% year-on-year), likely due to global economic disturbances.
Looking ahead, the forecasted data suggests continued growth in this sector. From 2024 to 2028, the production value is expected to rise, with a projected value of $316.27 billion by 2028. This reflects a forecasted 5-year CAGR of 1.45% and a total growth rate of 7.48%. Future trends to watch for include advancements in technology, increased demand for commercial and military aircraft, and potential impacts from global geopolitical developments.
