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U.S. Aerospace & Defense Industry Analysis

UpdatedMay 20, 2026
DataAggregated Company Financials
Companies102
  • 7D-3.3%
  • 3M-9.9%
  • 1Y24.5%
  • YTD-1.6%

Over the last 7 days, the Aerospace & Defense industry has dropped 2.5%, driven by Boeing declining 9.2%. In contrast, Rocket Lab has gained 8.3%. This takes the industry's 12 month performance to a gain of 26%. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

Has the U.S. Aerospace & Defense Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 20 May 2026US$1.6tUS$529.2bUS$37.5b34.4x43.1x3.1x
Fri, 17 Apr 2026US$1.7tUS$511.7bUS$36.3b38.9x46x3.3x
Sun, 15 Mar 2026US$1.6tUS$511.4bUS$35.2b41.6x46.6x3.2x
Tue, 10 Feb 2026US$1.7tUS$509.8bUS$35.5b42.8x47.3x3.3x
Thu, 08 Jan 2026US$1.5tUS$410.1bUS$32.0b38.9x45.4x3.5x
Sat, 06 Dec 2025US$1.3tUS$409.5bUS$32.0b37x40.1x3.1x
Mon, 03 Nov 2025US$1.4tUS$408.1bUS$32.3b38.9x42.2x3.3x
Wed, 01 Oct 2025US$1.3tUS$395.8bUS$31.0b39x41.3x3.2x
Fri, 29 Aug 2025US$1.2tUS$394.2bUS$31.0b35.3x39.2x3.1x
Sun, 27 Jul 2025US$1.2tUS$392.6bUS$31.2b36.5x38.4x3.1x
Tue, 24 Jun 2025US$1.1tUS$387.0bUS$29.9b34.7x37.3x2.9x
Thu, 22 May 2025US$1.1tUS$386.7bUS$30.0b32.4x35.3x2.7x
Sat, 19 Apr 2025US$921.1bUS$377.4bUS$28.8b31.1x32x2.4x
Mon, 17 Mar 2025US$929.1bUS$377.0bUS$29.1b31.9x32x2.5x
Wed, 12 Feb 2025US$946.0bUS$375.6bUS$29.9b33.7x31.6x2.5x
Fri, 10 Jan 2025US$882.8bUS$403.9bUS$27.9b33.1x31.6x2.2x
Sun, 08 Dec 2024US$927.5bUS$403.7bUS$27.9b34.8x33.2x2.3x
Tue, 05 Nov 2024US$900.4bUS$403.1bUS$27.7b32.6x32.5x2.2x
Thu, 03 Oct 2024US$935.0bUS$393.7bUS$23.6b35.4x39.6x2.4x
Sat, 31 Aug 2024US$898.3bUS$388.7bUS$23.3b34.3x38.6x2.3x
Mon, 29 Jul 2024US$850.5bUS$387.2bUS$22.9b34.6x37.1x2.2x
Wed, 26 Jun 2024US$799.0bUS$381.1bUS$23.9b32x33.5x2.1x
Fri, 24 May 2024US$813.2bUS$380.8bUS$23.8b31.4x34.1x2.1x
Sun, 21 Apr 2024US$762.3bUS$371.1bUS$27.8b29.4x27.4x2.1x
Tue, 19 Mar 2024US$586.3bUS$303.9bUS$18.9b31.2x31.1x1.9x
Thu, 15 Feb 2024US$563.3bUS$303.1bUS$18.5b29.7x30.4x1.9x
Sat, 13 Jan 2024US$583.1bUS$302.1bUS$20.9b29.3x27.9x1.9x
Mon, 11 Dec 2023US$566.7bUS$301.7bUS$20.9b28.2x27.1x1.9x
Wed, 08 Nov 2023US$553.7bUS$301.3bUS$20.6b28.2x26.9x1.8x
Fri, 06 Oct 2023US$497.7bUS$301.2bUS$22.4b26.1x22.2x1.7x
Sun, 03 Sep 2023US$559.0bUS$305.8bUS$22.8b25.5x24.5x1.8x
Tue, 01 Aug 2023US$561.0bUS$304.0bUS$22.8b26.3x24.7x1.8x
Thu, 29 Jun 2023US$565.7bUS$297.4bUS$21.7b24.7x26.1x1.9x
Sat, 27 May 2023US$546.8bUS$300.3bUS$21.9b23.2x25x1.8x
Price to Earnings Ratio

25x


Total Market Cap: US$546.8bTotal Earnings: US$21.9bTotal Revenue: US$300.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Aerospace & Defense Industry Price to Earnings3Y Average 34.4x202420252026
Current Industry PE
  • Investors are optimistic on the American Aerospace & Defense industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 42.4x which is higher than its 3-year average PE of 34.4x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have grown 20% per year over the last three years.
  • Revenues for these companies have grown 21% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market-1.01%
Industrials-3.52%
Aerospace & Defense-3.29%
Aerospace and Defense-3.29%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
RKLB Rocket LabUS$127.318.3%
+US$5.6b		389.7%PS108.4x
LMT Lockheed MartinUS$526.631.1%
+US$1.3b		10.7%PE25.3x
HEI HEICOUS$292.371.6%
+US$655.7m		5.5%PE57.2x
FLY Firefly AerospaceUS$42.578.3%
+US$520.8m		n/aPS36.9x
VOYG Voyager TechnologiesUS$37.5728.7%
+US$496.0m		n/aPS13.3x

Latest News

RKLB
US$127.31
Rocket Lab
7D
8.3%
1Y
389.7%
Seeking Alpha • 15h

Rocket Lab Is The Future, But Don't Buy The Stock

Summary Rocket Lab (RKLB) has demonstrated strong revenue growth and execution, but the current valuation exceeds 100x sales, raising concerns about forward returns. RKLB's future hinges on successful Neutron rocket launches, yet the product remains unproven and a significant portion of future earnings depend on it. Despite robust top-line growth and improving margins, the risk/reward profile is challenged by high expectations and the upcoming SpaceX IPO as an alternative. I reiterate a 'Hold' rating, favoring selling put options to capture yield and potentially enter at a more attractive valuation. Read the full article on Seeking Alpha
LMT
US$526.63
Lockheed Martin
7D
1.1%
1Y
10.7%
RTX
US$174.49
RTX
7D
-2.5%
1Y
27.2%
VOYG
US$37.57
Voyager Technologies
7D
28.7%
1Y
n/a
BA
US$215.01
Boeing
7D
-9.2%
1Y
3.5%
SATL
US$9.66
Satellogic
7D
27.9%
1Y
139.1%
HWM
US$253.12
Howmet Aerospace
7D
-6.2%
1Y
53.3%
RDW
US$13.91
Redwire
7D
20.3%
1Y
13.2%
ATI
US$150.44
ATI
7D
-6.6%
1Y
97.5%
WWD
US$344.85
Woodward
7D
-6.2%
1Y
61.7%
KRMN
US$64.20
Karman Holdings
7D
2.8%
1Y
46.4%
GD
US$340.14
General Dynamics
7D
-1.8%
1Y
20.8%
GE
US$285.28
General Electric
7D
-4.1%
1Y
21.3%
Narrative Update • May 13

GE: Repair Automation And Defense Programs Will Support Future Cash Generation

Analysts trimmed their consolidated price target for General Electric by $10 to $350. This reflects slightly higher discount rate assumptions, modestly lower revenue growth and profit margin expectations, and a small upward adjustment to the future P/E multiple following recent updates to GE Aerospace research coverage.
FLY
US$42.57
Firefly Aerospace
7D
8.3%
1Y
n/a
FTAI
US$223.49
FTAI Aviation
7D
-16.0%
1Y
87.3%
HEI
US$292.37
HEICO
7D
1.6%
1Y
5.5%