U.S. Aerospace Industry Posts $151 Billion in Sales for 2001, Forecasts $6.6 Billion Decline in Sales for 2002
The Aerospace Industries Association (AIA) released figures showing that the events of Sept. 11, 2001, will cause a sharp contraction in industry sales as commercial transport production declines. AIA President and CEO John W. Douglass said that industry sales are projected to decline $6.6 billion from this year's near-record figures of $151 billion. Douglass also stated that the industry posted near-record profits for 2001-an estimated $8.7 billion up from $7.3 billion in 2000, marking the sixth straight year the industry has earned profits in excess of $7 billion. For more information visit AIA's web site at www.aia-aerospace.org.