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U.S. Aerospace & Defense Industry Analysis

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies102
  • 7D-3.2%
  • 3M-6.3%
  • 1Y24.5%
  • YTD2.9%

Over the last 7 days, the Aerospace & Defense industry has dropped 3.2%, driven by a pullback from Rocket Lab of 23%. Over the past 12 months, the industry was up 25%. 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
Sun, 07 Jun 2026US$1.7tUS$530.2bUS$37.2b39.6x45.1x3.2x
Tue, 05 May 2026US$1.6tUS$526.7bUS$38.0b34.3x41.7x3x
Thu, 02 Apr 2026US$1.6tUS$511.7bUS$36.4b37.3x43x3.1x
Sat, 28 Feb 2026US$1.7tUS$511.3bUS$35.6b44x48.5x3.4x
Mon, 26 Jan 2026US$1.5tUS$412.0bUS$32.5b41.1x45.3x3.6x
Wed, 24 Dec 2025US$1.4tUS$410.0bUS$32.0b37.9x43.2x3.4x
Fri, 21 Nov 2025US$1.3tUS$409.2bUS$32.3b35.4x39.9x3.1x
Sun, 19 Oct 2025US$1.3tUS$398.7bUS$31.3b37.5x41.3x3.2x
Tue, 16 Sep 2025US$1.2tUS$395.7bUS$31.0b35.7x39.8x3.1x
Thu, 14 Aug 2025US$1.2tUS$393.8bUS$31.0b33.9x39x3.1x
Sat, 12 Jul 2025US$1.1tUS$387.1bUS$29.9b35.5x38.4x3x
Mon, 09 Jun 2025US$1.1tUS$386.8bUS$30.0b34.3x37x2.9x
Wed, 07 May 2025US$986.3bUS$385.8bUS$29.4b32.4x33.6x2.6x
Fri, 04 Apr 2025US$946.8bUS$377.4bUS$28.8b28.2x32.9x2.5x
Sun, 02 Mar 2025US$938.0bUS$376.7bUS$30.1b33.6x31.2x2.5x
Tue, 28 Jan 2025US$954.0bUS$372.4bUS$29.1b34.9x32.8x2.6x
Thu, 26 Dec 2024US$894.4bUS$403.7bUS$28.0b33.6x32x2.2x
Sat, 23 Nov 2024US$945.4bUS$403.8bUS$27.8b35.1x34x2.3x
Mon, 21 Oct 2024US$969.4bUS$393.7bUS$23.7b35.5x41x2.5x
Wed, 18 Sep 2024US$906.1bUS$388.8bUS$23.2b33.4x39.1x2.3x
Fri, 16 Aug 2024US$871.6bUS$388.4bUS$23.2b32.9x37.5x2.2x
Sun, 14 Jul 2024US$794.6bUS$381.1bUS$24.0b35.5x33.1x2.1x
Tue, 11 Jun 2024US$807.4bUS$381.1bUS$23.9b31.8x33.8x2.1x
Thu, 09 May 2024US$811.2bUS$380.7bUS$23.8b30.9x34.1x2.1x
Sat, 06 Apr 2024US$602.6bUS$303.9bUS$18.8b32.5x32x2x
Mon, 04 Mar 2024US$577.6bUS$303.7bUS$18.7b31.8x30.9x1.9x
Wed, 31 Jan 2024US$577.0bUS$306.5bUS$18.0b31.7x32.1x1.9x
Fri, 29 Dec 2023US$578.5bUS$302.1bUS$20.9b28.6x27.7x1.9x
Sun, 26 Nov 2023US$560.0bUS$301.6bUS$20.9b27.7x26.8x1.9x
Tue, 24 Oct 2023US$531.5bUS$301.5bUS$22.3b24.9x23.8x1.8x
Thu, 21 Sep 2023US$531.0bUS$305.9bUS$22.6b25.5x23.5x1.7x
Sat, 19 Aug 2023US$549.3bUS$305.7bUS$22.8b25.3x24.1x1.8x
Mon, 17 Jul 2023US$574.7bUS$298.0bUS$21.6b26.1x26.6x1.9x
Wed, 14 Jun 2023US$572.1bUS$300.3bUS$21.9b25.5x26.2x1.9x
Price to Earnings Ratio

26.2x


Total Market Cap: US$572.1bTotal 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-2.79%
Industrials-0.76%
Aerospace & Defense-3.17%
Aerospace and Defense-3.17%
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
GE General ElectricUS$328.001.3%
+US$4.4b		28.3%PE40x
AXON Axon EnterpriseUS$486.128.3%
+US$3.0b		-38.6%PE190.2x
RTX RTXUS$180.990.7%
+US$1.8b		30.1%PE33.6x
CRS Carpenter TechnologyUS$483.603.1%
+US$726.4m		94.4%PE50.2x
WWD WoodwardUS$357.742.2%
+US$459.4m		52.5%PE41.5x

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%
HEI
US$331.43
HEICO
7D
-4.8%
1Y
9.3%
ATI
US$177.47
ATI
7D
1.3%
1Y
111.3%
Narrative Update • Jun 05

ATI: Higher Margins And Buybacks Will Support A More Demanding Future Profile

ATI's analyst price target has been revised higher by several firms, with recent Street research pointing to increased confidence around the company's revenue growth, profit margin profile and P/E assumptions, which together support a refreshed target near $170. Analyst Commentary Recent research has centered on how ATI's updated price targets line up with assumptions for revenue growth, profit margins and P/E, and whether the stock already reflects those expectations.
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.
FTAI
US$234.05
FTAI Aviation
7D
-10.1%
1Y
81.2%
Narrative Update • Jun 04

FTAI: Power Platform And Engine Partnerships Will Drive Future Earnings Repricing

Analysts have lifted the implied fair value estimate for FTAI Aviation from about $350 to roughly $407 per share, citing updated assumptions around revenue growth, profit margins, and a lower future P/E multiple as key drivers behind the higher price targets presented in recent research. Analyst Commentary Recent research highlights a series of higher price targets for FTAI Aviation, with bullish analysts pointing to updated assumptions around revenue, margins, and valuation multiples.
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).