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U.S. Aerospace & Defense Industry Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies102
  • 7D1.9%
  • 3M1.5%
  • 1Y29.6%
  • YTD5.8%

In the last week, the Aerospace & Defense industry is up 1.9%, with Lockheed Martin leading the way with a 5.7% gain. During this same period, the Axon Enterprise underperformed, falling 13%. In the last 12 months, the industry was up 30%. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Jun 2026US$1.6tUS$530.2bUS$37.1b40x44.2x3.1x
Sun, 10 May 2026US$1.6tUS$528.8bUS$37.8b36.9x43.3x3.1x
Tue, 07 Apr 2026US$1.6tUS$511.7bUS$36.3b37x43.8x3.1x
Thu, 05 Mar 2026US$1.7tUS$511.1bUS$35.6b45.9x49.1x3.4x
Sat, 31 Jan 2026US$1.7tUS$508.9bUS$35.4b41.6x46.8x3.3x
Mon, 29 Dec 2025US$1.4tUS$410.0bUS$32.0b37.7x42.9x3.4x
Wed, 26 Nov 2025US$1.3tUS$409.5bUS$32.4b38.1x39.4x3.1x
Fri, 24 Oct 2025US$1.3tUS$405.3bUS$32.3b40x40.8x3.3x
Sun, 21 Sep 2025US$1.3tUS$395.7bUS$31.0b36.4x40.9x3.2x
Tue, 19 Aug 2025US$1.2tUS$394.0bUS$31.0b34.2x38.3x3x
Thu, 17 Jul 2025US$1.2tUS$387.1bUS$29.9b35.1x39.3x3x
Sat, 14 Jun 2025US$1.1tUS$387.0bUS$29.9b33.9x36.8x2.8x
Mon, 12 May 2025US$1.0tUS$386.1bUS$29.4b33.3x34.1x2.6x
Wed, 09 Apr 2025US$839.6bUS$377.4bUS$28.8b27.2x29.1x2.2x
Fri, 07 Mar 2025US$932.9bUS$376.7bUS$30.1b32.1x31x2.5x
Sun, 02 Feb 2025US$948.3bUS$375.7bUS$30.0b33.9x31.6x2.5x
Tue, 31 Dec 2024US$891.3bUS$403.7bUS$28.0b33.2x31.9x2.2x
Thu, 28 Nov 2024US$953.2bUS$406.5bUS$27.8b35.1x34.3x2.3x
Sat, 26 Oct 2024US$931.5bUS$402.9bUS$27.7b33.7x33.6x2.3x
Mon, 23 Sep 2024US$916.0bUS$388.8bUS$23.2b34.4x39.5x2.4x
Wed, 21 Aug 2024US$880.5bUS$388.4bUS$23.2b33.2x37.9x2.3x
Fri, 19 Jul 2024US$809.2bUS$381.1bUS$24.0b37.2x33.7x2.1x
Sun, 16 Jun 2024US$787.2bUS$381.1bUS$23.9b31.6x33x2.1x
Tue, 14 May 2024US$805.9bUS$380.8bUS$23.8b30.4x33.8x2.1x
Thu, 11 Apr 2024US$770.4bUS$371.9bUS$27.6b30.9x27.9x2.1x
Sat, 09 Mar 2024US$584.5bUS$303.9bUS$18.7b31.4x31.3x1.9x
Mon, 05 Feb 2024US$579.9bUS$306.9bUS$18.1b31.2x32x1.9x
Wed, 03 Jan 2024US$580.8bUS$302.1bUS$20.9b28.1x27.8x1.9x
Fri, 01 Dec 2023US$555.0bUS$301.6bUS$20.9b27.5x26.6x1.8x
Sun, 29 Oct 2023US$534.7bUS$299.7bUS$20.0b27.8x26.8x1.8x
Tue, 26 Sep 2023US$516.6bUS$305.9bUS$22.6b25x22.9x1.7x
Thu, 24 Aug 2023US$556.8bUS$305.7bUS$22.8b25.3x24.4x1.8x
Sat, 22 Jul 2023US$574.6bUS$299.3bUS$23.0b26.8x25x1.9x
Mon, 19 Jun 2023US$573.5bUS$297.4bUS$21.9b25.7x26.2x1.9x
Price to Earnings Ratio

26.2x


Total Market Cap: US$573.5bTotal Earnings: US$21.9bTotal Revenue: US$297.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Aerospace & Defense Industry Price to Earnings3Y Average 34.8x202420252026
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 44.2x which is higher than its 3-year average PE of 34.8x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have grown 19% 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-2.36%
Industrials-0.96%
Aerospace & Defense1.94%
Aerospace and Defense1.94%
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
LMT Lockheed MartinUS$548.685.7%
+US$6.8b		16.9%PE26.4x
RTX RTXUS$184.212.7%
+US$6.5b		30.7%PE34.2x
HWM Howmet AerospaceUS$264.606.1%
+US$6.1b		54.3%PE60.7x
GE General ElectricUS$332.761.6%
+US$5.3b		38.7%PE40.5x
GD General DynamicsUS$358.865.1%
+US$4.7b		28.2%PE22.3x

Latest News

GE
US$332.76
General Electric
7D
1.6%
1Y
38.7%
RDW
US$17.09
Redwire
7D
-20.3%
1Y
-11.5%
ATI
US$199.50
ATI
7D
10.2%
1Y
137.1%
CRS
US$562.45
Carpenter Technology
7D
14.2%
1Y
126.4%
BA
US$221.63
Boeing
7D
1.9%
1Y
8.8%
KTOS
US$58.78
Kratos Defense & Security Solutions
7D
-7.3%
1Y
42.5%
AVAV
US$183.69
AeroVironment
7D
-10.1%
1Y
-3.4%
LMT
US$548.68
Lockheed Martin
7D
5.7%
1Y
16.9%
GD
US$358.86
General Dynamics
7D
5.1%
1Y
28.2%
FTAI
US$241.34
FTAI Aviation
7D
-3.5%
1Y
95.0%
RKLB
US$114.78
Rocket Lab
7D
-4.3%
1Y
334.8%
Narrative Update • Jun 08

RKLB: National Security Space Backlog Will Drive Future Earnings Power

Rocket Lab's analyst price target has shifted from $105.00 to about $149.03 as analysts point to industry launch under supply, an expanding backlog, infrastructure advantages, and a core business that is closer to profitability. Analyst Commentary Bullish analysts have been steadily lifting their fair value estimates for Rocket Lab, pointing to a mix of execution in the launch business, an expanding backlog, and progress toward a more profitable core operation.
KRMN
US$49.58
Karman Holdings
7D
-8.8%
1Y
4.4%
New Narrative • Jun 07

KRMN — Karman Space & Defense: Down 58% from Peak, Is the Market Mispricing a Hypergrowth Defense Compounder?

Why I'm Looking at This Karman Holdings went public in February 2025 and almost immediately became one of the most exciting stories in the aerospace and defense small-cap space. By January 2026, it was trading at $118.
HWM
US$264.60
Howmet Aerospace
7D
6.1%
1Y
54.3%
Narrative Update • Jun 07

HWM: Defense Aerospace Strength And Technology Footprint Will Support Premium Future P/E Profile

Analysts have nudged the average price target for Howmet Aerospace slightly higher to about $340, reflecting updated models that factor in modest tweaks to growth, profitability and valuation assumptions, alongside a series of recent target increases across the Street. Analyst Commentary Recent research on Howmet Aerospace points to a generally constructive tone, with multiple bullish analysts adjusting targets higher and framing the stock as a key way to gain exposure to aerospace trends.
AXON
US$446.20
Axon Enterprise
7D
-13.1%
1Y
-42.4%
ACHR
US$5.30
Archer Aviation
7D
-16.9%
1Y
-54.8%
RTX
US$184.21
RTX
7D
2.7%
1Y
30.7%