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U.S. Aerospace & Defense Industry Analysis

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies102
  • 7D-2.1%
  • 3M-6.0%
  • 1Y24.6%
  • YTD2.9%

Over the last 7 days, the Aerospace & Defense industry has dropped 3.2%, driven by a pullback from Rocket Lab of 23%. In the past year, the industry has gained 25%. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 08 Jun 2026US$1.7tUS$530.2bUS$37.2b39.6x45.1x3.2x
Wed, 06 May 2026US$1.6tUS$526.7bUS$38.0b34.9x41.3x3x
Fri, 03 Apr 2026US$1.6tUS$511.7bUS$36.4b35.9x44.1x3.1x
Sun, 01 Mar 2026US$1.7tUS$511.3bUS$35.6b44x48.9x3.4x
Tue, 27 Jan 2026US$1.5tUS$412.0bUS$32.5b41.1x45.1x3.6x
Thu, 25 Dec 2025US$1.4tUS$410.0bUS$32.0b38x43.3x3.4x
Sat, 22 Nov 2025US$1.3tUS$409.2bUS$32.3b36.1x39.1x3.1x
Mon, 20 Oct 2025US$1.3tUS$398.7bUS$31.3b37.5x41.3x3.2x
Wed, 17 Sep 2025US$1.2tUS$395.7bUS$31.0b35.9x40.3x3.2x
Fri, 15 Aug 2025US$1.2tUS$394.0bUS$31.0b33.9x38.6x3x
Sun, 13 Jul 2025US$1.2tUS$387.1bUS$29.9b35.3x38.6x3x
Tue, 10 Jun 2025US$1.1tUS$386.8bUS$30.0b35x37x2.9x
Thu, 08 May 2025US$981.1bUS$385.8bUS$29.4b32.5x33.3x2.5x
Sat, 05 Apr 2025US$914.9bUS$377.4bUS$28.8b26.5x31.8x2.4x
Mon, 03 Mar 2025US$938.1bUS$376.7bUS$30.1b33.6x31.2x2.5x
Wed, 29 Jan 2025US$946.9bUS$373.8bUS$27.8b34x34.1x2.5x
Fri, 27 Dec 2024US$894.4bUS$403.7bUS$28.0b33.7x32x2.2x
Sun, 24 Nov 2024US$952.9bUS$403.8bUS$27.8b35.1x34.2x2.4x
Tue, 22 Oct 2024US$969.4bUS$393.7bUS$23.7b35.5x40.9x2.5x
Thu, 19 Sep 2024US$901.3bUS$388.8bUS$23.2b33.3x38.9x2.3x
Sat, 17 Aug 2024US$877.6bUS$388.4bUS$23.2b33x37.8x2.3x
Mon, 15 Jul 2024US$794.6bUS$381.1bUS$24.0b35.5x33.1x2.1x
Wed, 12 Jun 2024US$807.7bUS$381.1bUS$23.9b31.5x33.8x2.1x
Fri, 10 May 2024US$811.6bUS$380.8bUS$23.8b31.4x34.1x2.1x
Sun, 07 Apr 2024US$607.6bUS$303.9bUS$18.9b32.5x32.2x2x
Tue, 05 Mar 2024US$583.5bUS$303.7bUS$18.7b32.1x31.2x1.9x
Thu, 01 Feb 2024US$580.0bUS$306.5bUS$18.0b31.5x32.2x1.9x
Sat, 30 Dec 2023US$579.7bUS$302.1bUS$20.9b28.4x27.7x1.9x
Mon, 27 Nov 2023US$560.0bUS$301.6bUS$20.9b27.7x26.8x1.9x
Wed, 25 Oct 2023US$531.5bUS$301.5bUS$22.3b24.9x23.8x1.8x
Fri, 22 Sep 2023US$521.4bUS$305.9bUS$22.6b25.2x23.1x1.7x
Sun, 20 Aug 2023US$552.9bUS$305.7bUS$22.8b25.3x24.3x1.8x
Tue, 18 Jul 2023US$574.7bUS$298.0bUS$21.6b26.4x26.6x1.9x
Thu, 15 Jun 2023US$566.8bUS$300.3bUS$21.9b25.4x25.9x1.9x
Price to Earnings Ratio

25.9x


Total Market Cap: US$566.8bTotal 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 34.8x202420252026
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 45.1x 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 3.2x.
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-2.49%
Industrials-0.34%
Aerospace & Defense-2.11%
Aerospace and Defense-2.11%
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
RTX RTXUS$180.993.8%
+US$8.9b		28.4%PE33.6x
GE General ElectricUS$328.001.0%
+US$3.5b		30.5%PE40x
AXON Axon EnterpriseUS$486.128.3%
+US$3.0b		-38.6%PE190.2x
GD General DynamicsUS$346.442.1%
+US$2.0b		24.9%PE21.5x
LMT Lockheed MartinUS$523.761.4%
+US$1.7b		8.9%PE25.2x

Latest News

HWM
US$251.90
Howmet Aerospace
7D
-2.5%
1Y
43.6%
LUNR
US$29.36
Intuitive Machines
7D
-33.0%
1Y
150.7%
AXON
US$486.12
Axon Enterprise
7D
8.3%
1Y
-38.6%
RKLB
US$110.08
Rocket Lab
7D
-23.3%
1Y
280.6%
WWD
US$357.74
Woodward
7D
2.2%
1Y
52.5%
FLY
US$36.10
Firefly Aerospace
7D
-22.3%
1Y
n/a
Seeking Alpha • Jun 06

Firefly Aerospace: A Discounted Space And Defense Platform

Summary Firefly is rated BUY with a 12-month price target of $53, reflecting a significant discount to fair value after recent share price weakness. FLY's diversified platform now spans launch vehicles, lunar landers, and AI-enabled defense software, with the SciTec acquisition adding recurring, stable government contract revenue. Record Q1 revenue of $80.9 million and reaffirmed 2026 guidance of $420–$450 million, with 80% of sales already booked and a $1.3 billion backlog, support the growth thesis. FLY trades at ~14x 2026 sales guidance versus RocketLab's 70x, with defense contracts and successful lunar missions offering upside despite execution and launch cadence risks. Read the full article on Seeking Alpha
LMT
US$523.76
Lockheed Martin
7D
-1.3%
1Y
8.7%
Seeking Alpha • Jun 06

Lockheed Martin: Time To Pull The Trigger (Upgrade)

Summary Lockheed Martin is rated a buy as global defense spending accelerates, driven by conflicts in Ukraine and Iran. The company is ramping up production and investing heavily in capacity, particularly in missiles, counter-drone tech, and next-gen systems. Despite Q1 top and bottom line misses and margin pressure, management reaffirmed full-year guidance and expects profitability to improve in H2 2026. The stock trades at a discount to the Industrials sector, offering an attractive entry point amid a defense supercycle and robust international demand. Read the full article on Seeking Alpha
CW
US$733.14
Curtiss-Wright
7D
1.8%
1Y
59.4%
Seeking Alpha • Jun 05

Curtiss-Wright: A Great Business At A Valuation I Cannot Defend

Summary Curtiss-Wright Corporation is a high-quality business, but its current valuation—near 50x forward earnings—makes the risk/reward unattractive. Despite strong Q1 results, raised guidance, and robust free cash flow, CW’s valuation assumes aggressive, sustained growth for a decade, leaving little margin for error. My fair value range for CW is $600–$680; at current prices above $740, the stock is already near bull-case valuation, offering limited upside. I rate CW a Sell, as the market is pricing in a best-case scenario, making the investment case fragile if growth or margins disappoint. Read the full article on Seeking Alpha
AIR
US$116.65
AAR
7D
3.6%
1Y
74.4%
Narrative Update • Jun 05

AIR: Defense And Aftermarket Platform Expansion Will Drive Further Upside

Analysts have kept their average price target for AAR steady at about $132 per share, with the latest update reflecting adjustments to assumptions for discount rate, profit margin and future P/E rather than a change in overall valuation. What's in the News AAR hosted its 2026 Investor Day on May 12, outlining a long term plan centered on parts, repair, and software for commercial and government fleets, and reaffirming guidance for Q4 and full fiscal 2026, including adjusted sales of $3.116b, adjusted EBITDA of $376m with a 12.1% margin, and adjusted EPS of $4.67 for the 12 months ended Q3 FY26 (Investor Day materials, May 12, 2026).
RTX
US$180.99
RTX
7D
0.7%
1Y
30.1%
CRS
US$483.60
Carpenter Technology
7D
3.1%
1Y
94.4%
Narrative Update • Jun 05

CRS: Record Q3 Earnings And Buybacks Will Support Balanced Outlook Into 2026

Analysts now set a fresh price target for Carpenter Technology of $459.50, up from $439.33. This reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
ARXS
US$39.41
Arxis
7D
-12.3%
1Y
n/a
NOC
US$544.40
Northrop Grumman
7D
-3.4%
1Y
11.2%
Narrative Update • Jun 04

NOC: Space Defense And Drone Programs Will Drive Future Returns

Analysts trimmed the Northrop Grumman valuation target by about $10 per share to reflect slightly higher discount rates, modestly lower revenue growth and profit margin assumptions, and a small reset in projected future P/E in line with recent Street price target reductions to the $620 to $628 range. Analyst Commentary Recent Street research on Northrop Grumman points to a mixed view, with several firms resetting price targets into the low to mid US$600s and updating their models around growth, margins, and capital intensity.
GE
US$328.00
General Electric
7D
1.3%
1Y
28.3%
BA
US$215.45
Boeing
7D
-6.8%
1Y
2.2%
MOG.A
US$368.25
Moog
7D
2.3%
1Y
98.3%
Narrative Update • Jun 01

MOG.A: Defense Exercise Success And Index Changes Will Shape Steady Outlook

Analysts have modestly reduced their 12 month price target for Moog to $328.25, reflecting updated assumptions around the discount rate and a slightly lower future P/E multiple, while keeping fair value, revenue growth, and profit margin expectations broadly unchanged. What's in the News Echodyne and Moog reported successful testing of the Reconfigurable Integrated weapon Platform at a U.S. Army exercise, where their combined radar, control systems, and AI detected, tracked, and engaged small unmanned aerial systems in less than 3 seconds (source: Echodyne and Moog announcement).