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U.S. Aerospace & Defense Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies96
  • 7D-5.2%
  • 3M11.1%
  • 1Y49.6%
  • YTD4.2%

Over the last 7 days, the Aerospace & Defense industry has dropped 5.2%, driven by a pullback from General Electric of 5.6%. In contrast, Firefly Aerospace has gained 15%. In the past year, the industry has gained 50%. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Mar 2026US$1.6tUS$511.4bUS$35.2b41.6x46.6x3.2x
Thu, 12 Feb 2026US$1.7tUS$509.8bUS$35.5b41.9x46.9x3.3x
Sat, 10 Jan 2026US$1.4tUS$410.1bUS$32.0b40.3x44.8x3.5x
Mon, 08 Dec 2025US$1.3tUS$409.5bUS$32.0b37x39.7x3.1x
Wed, 05 Nov 2025US$1.4tUS$408.4bUS$32.2b37.5x42.1x3.3x
Fri, 03 Oct 2025US$1.3tUS$398.6bUS$31.3b39.1x42.1x3.3x
Sun, 31 Aug 2025US$1.2tUS$394.2bUS$31.0b34.4x39.1x3.1x
Tue, 29 Jul 2025US$1.2tUS$392.6bUS$31.2b36.6x38.4x3.1x
Thu, 26 Jun 2025US$1.1tUS$387.1bUS$29.9b35.3x37.3x2.9x
Sat, 24 May 2025US$1.0tUS$386.7bUS$29.9b32.9x34.7x2.7x
Mon, 21 Apr 2025US$921.1bUS$377.4bUS$28.8b31.1x32x2.4x
Wed, 19 Mar 2025US$942.3bUS$377.0bUS$29.1b32.2x32.4x2.5x
Fri, 14 Feb 2025US$943.9bUS$376.1bUS$30.0b34.4x31.5x2.5x
Sun, 12 Jan 2025US$876.7bUS$401.3bUS$27.9b32.7x31.4x2.2x
Tue, 10 Dec 2024US$927.5bUS$403.7bUS$27.9b34x33.2x2.3x
Thu, 07 Nov 2024US$912.4bUS$403.3bUS$27.7b35.4x32.9x2.3x
Sat, 05 Oct 2024US$944.7bUS$393.7bUS$23.6b35.1x40x2.4x
Mon, 02 Sep 2024US$903.6bUS$388.7bUS$23.3b34.3x38.8x2.3x
Wed, 31 Jul 2024US$850.1bUS$387.2bUS$22.9b34.1x37.1x2.2x
Fri, 28 Jun 2024US$795.1bUS$381.1bUS$23.9b32.4x33.3x2.1x
Sun, 26 May 2024US$819.0bUS$380.8bUS$23.8b31.8x34.4x2.2x
Tue, 23 Apr 2024US$762.3bUS$371.1bUS$27.8b29.4x27.4x2.1x
Thu, 21 Mar 2024US$591.9bUS$303.9bUS$18.8b31.8x31.4x1.9x
Sat, 17 Feb 2024US$571.5bUS$303.1bUS$18.5b29.9x30.9x1.9x
Mon, 15 Jan 2024US$583.1bUS$302.1bUS$20.9b29.3x27.9x1.9x
Wed, 13 Dec 2023US$571.3bUS$301.7bUS$20.9b28.3x27.3x1.9x
Fri, 10 Nov 2023US$550.6bUS$301.4bUS$20.6b29.6x26.7x1.8x
Sun, 08 Oct 2023US$502.4bUS$301.2bUS$22.4b26.5x22.4x1.7x
Tue, 05 Sep 2023US$559.0bUS$305.8bUS$22.8b25.5x24.5x1.8x
Thu, 03 Aug 2023US$556.3bUS$304.8bUS$22.9b26.2x24.3x1.8x
Sat, 01 Jul 2023US$578.0bUS$297.4bUS$21.7b25.4x26.6x1.9x
Mon, 29 May 2023US$546.8bUS$300.3bUS$21.9b23.2x25x1.8x
Wed, 26 Apr 2023US$580.3bUS$295.0bUS$21.8b22.1x26.6x2x
Fri, 24 Mar 2023US$560.9bUS$294.7bUS$21.6b23.4x25.9x1.9x
Price to Earnings Ratio

25.9x


Total Market Cap: US$560.9bTotal Earnings: US$21.6bTotal Revenue: US$294.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Aerospace & Defense Industry Price to Earnings3Y Average 33.4x202420252026
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 46.6x which is higher than its 3-year average PE of 33.4x.
  • The 3-year average PS ratio of 2.4x 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 18% per year over the last three years.
  • Revenues for these companies have grown 20% 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-2.40%
Industrials-3.83%
Aerospace & Defense-5.17%
Aerospace and Defense-5.17%
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
FLY Firefly AerospaceUS$23.9315.3%
+US$506.4m		n/aPS34.3x
BWXT BWX TechnologiesUS$204.672.1%
+US$391.4m		104.7%PE56.9x
RCAT Red Cat HoldingsUS$15.5410.3%
+US$172.5m		168.4%PS249.2x
EH EHang HoldingsUS$12.032.3%
+US$19.4m		-52.4%PS11.7x
VOYG Voyager TechnologiesUS$27.443.0%
+US$14.8m		n/aPS9.7x

Latest News

ISSC
US$29.14
Innovative Aerosystems
7D
1.1%
1Y
322.9%
HEI
US$291.47
HEICO
7D
-6.1%
1Y
12.0%

HEI: Acquisition Pipeline And Elevated P/E Will Shape Balanced Future Returns

Analysts have trimmed their price target on HEICO to $295.97 from $298.71, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E, which slightly lower their assessment of upside potential. What's in the News HEICO is actively looking for acquisition opportunities across both its Flight Support Group and Electronic Technologies Group, with management highlighting a healthy pipeline of targets under evaluation (Key Developments).
FTAI
US$236.10
FTAI Aviation
7D
-14.6%
1Y
120.7%
AXON
US$489.64
Axon Enterprise
7D
-12.4%
1Y
-11.7%
GE
US$304.00
General Electric
7D
-5.6%
1Y
50.5%
FLY
US$23.93
Firefly Aerospace
7D
15.3%
1Y
n/a
PKE
US$27.58
Park Aerospace
7D
0.9%
1Y
104.9%
VOYG
US$27.44
Voyager Technologies
7D
3.0%
1Y
n/a
RTX
US$206.06
RTX
7D
-1.0%
1Y
56.0%

RTX: Fair Value View Balances Aerospace Demand With Defense Policy Uncertainty

Our RTX fair value estimate edges up by about $0.24 to $217.16 as analysts broadly lift price targets, highlighting product upgrades such as the PW1100G Section Plus option and updated sector views as key supports. Analyst Commentary Recent Street research on RTX is clustered around higher price targets and refreshed views on the commercial aerospace and defense group, with most commentary framing current levels in the context of product execution and sector positioning rather than short term trading calls.
BWXT
US$204.67
BWX Technologies
7D
2.1%
1Y
104.7%
LMT
US$645.20
Lockheed Martin
7D
-2.9%
1Y
38.0%

LMT: Sector Funding Momentum And Policy Support Will Sustain Long-Term Cash Generation

Analysts have lifted their fair value estimate for Lockheed Martin to $740 from $605, reflecting updated assumptions for slightly lower discount rates, higher revenue growth, firmer profit margins, and a higher future P/E multiple that are broadly in line with the recent wave of price target increases across the Street. Analyst Commentary The recent round of Street research on Lockheed Martin has leaned firmly constructive, with a series of upward price target revisions that align with the higher internal fair value estimate.
EH
US$12.03
EHang Holdings
7D
2.3%
1Y
-52.4%

EH: Trial Operations And Aerial Displays Will Support Yet Constrained Commercial Rollout Potential

Analysts have trimmed their fair value estimate for EHang Holdings from $13.12 to $12.71. This reflects updated assumptions around revenue growth, profit margins, discount rate and future P/E expectations.
BA
US$213.47
Boeing
7D
-5.1%
1Y
31.9%
HWM
US$240.73
Howmet Aerospace
7D
-5.3%
1Y
86.2%

HWM: Aerospace And Gas Turbine Demand Will Support Sustained Future Earnings Power

Analysts have raised their average price target for Howmet Aerospace to $315 from about $286, citing stronger margin expectations, slightly revised growth assumptions, and a higher forward P/E multiple supported by recent earnings results and broad price target increases across Wall Street. Analyst Commentary Bullish analysts are largely supportive of the higher average price target, pointing to recent earnings, margin performance, and end market demand as key pillars behind their updated views on Howmet Aerospace.
AZ
US$5.53
A2Z Cust2Mate Solutions
7D
2.2%
1Y
-20.0%
RCAT
US$15.54
Red Cat Holdings
7D
10.3%
1Y
168.4%