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U.S. Aerospace & Defense Industry Analysis

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies102
  • 7D-3.1%
  • 3M-7.3%
  • 1Y23.2%
  • YTD1.0%

Over the last 7 days, the Aerospace & Defense industry has dropped 3.1%, driven by a pullback from Rocket Lab of 24%. On the other hand Axon Enterprise is actually up 23%. In the past year, the industry has gained 23%. Looking forward, 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
Thu, 04 Jun 2026US$1.7tUS$530.2bUS$37.2b40x45x3.2x
Sat, 02 May 2026US$1.6tUS$526.7bUS$38.0b34.9x42.2x3x
Mon, 30 Mar 2026US$1.5tUS$511.7bUS$36.4b35.7x42.5x3x
Wed, 25 Feb 2026US$1.7tUS$510.6bUS$35.6b45x48.3x3.4x
Fri, 23 Jan 2026US$1.5tUS$412.0bUS$32.5b41.1x46.3x3.7x
Sun, 21 Dec 2025US$1.3tUS$410.0bUS$32.0b37.3x42.1x3.3x
Tue, 18 Nov 2025US$1.3tUS$409.2bUS$32.2b37.7x40.5x3.2x
Thu, 16 Oct 2025US$1.3tUS$398.7bUS$31.3b39.4x42.3x3.3x
Sat, 13 Sep 2025US$1.2tUS$395.7bUS$31.0b34.7x40x3.1x
Mon, 11 Aug 2025US$1.2tUS$393.8bUS$31.0b33.7x38.8x3x
Wed, 09 Jul 2025US$1.1tUS$387.1bUS$29.9b35.6x38.3x3x
Fri, 06 Jun 2025US$1.1tUS$386.8bUS$30.0b33.8x36.6x2.8x
Sun, 04 May 2025US$987.9bUS$385.7bUS$29.4b32.1x33.6x2.6x
Tue, 01 Apr 2025US$933.0bUS$377.4bUS$28.8b29.8x32.4x2.5x
Thu, 27 Feb 2025US$907.9bUS$376.5bUS$30.1b33.6x30.2x2.4x
Sat, 25 Jan 2025US$964.4bUS$372.3bUS$29.0b35.4x33.2x2.6x
Mon, 23 Dec 2024US$887.3bUS$403.7bUS$27.9b33.2x31.8x2.2x
Wed, 20 Nov 2024US$929.4bUS$403.8bUS$27.8b34.3x33.4x2.3x
Fri, 18 Oct 2024US$968.6bUS$393.7bUS$23.7b35.4x40.9x2.5x
Sun, 15 Sep 2024US$900.7bUS$388.8bUS$23.3b33.4x38.7x2.3x
Tue, 13 Aug 2024US$861.4bUS$388.4bUS$23.2b32.7x37.1x2.2x
Thu, 11 Jul 2024US$791.3bUS$381.1bUS$24.0b34.5x32.9x2.1x
Sat, 08 Jun 2024US$808.6bUS$381.1bUS$23.9b31.8x33.9x2.1x
Mon, 06 May 2024US$797.8bUS$380.4bUS$23.7b29.4x33.7x2.1x
Wed, 03 Apr 2024US$603.7bUS$303.9bUS$18.8b31.9x32x2x
Fri, 01 Mar 2024US$579.4bUS$303.7bUS$18.7b32.4x31x1.9x
Sun, 28 Jan 2024US$576.3bUS$306.4bUS$17.9b32.1x32.1x1.9x
Tue, 26 Dec 2023US$574.7bUS$302.1bUS$20.9b28.3x27.5x1.9x
Thu, 23 Nov 2023US$552.8bUS$301.6bUS$20.9b27.2x26.5x1.8x
Sat, 21 Oct 2023US$532.4bUS$301.5bUS$22.3b25.2x23.9x1.8x
Mon, 18 Sep 2023US$530.5bUS$305.9bUS$22.6b25.6x23.5x1.7x
Wed, 16 Aug 2023US$551.6bUS$305.7bUS$22.8b25.5x24.2x1.8x
Fri, 14 Jul 2023US$580.4bUS$298.0bUS$21.6b26x26.9x1.9x
Sun, 11 Jun 2023US$571.8bUS$300.3bUS$21.9b24.7x26.1x1.9x
Price to Earnings Ratio

26.1x


Total Market Cap: US$571.8bTotal 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 34.7x202420252026
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 45.0x which is higher than its 3-year average PE of 34.7x.
  • 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 Market0.35%
Industrials-0.81%
Aerospace & Defense-3.12%
Aerospace and Defense-3.12%
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
AXON Axon EnterpriseUS$481.4823.0%
+US$7.3b		-38.3%PE188.4x
HEI HEICOUS$329.116.4%
+US$2.7b		9.7%PE58.2x
ATI ATIUS$179.945.9%
+US$1.4b		116.8%PE57.7x
CRS Carpenter TechnologyUS$487.055.7%
+US$1.3b		97.5%PE50.5x
MOG.A MoogUS$373.949.0%
+US$974.6m		103.2%PE41.8x

Latest News

ARXS
US$41.33
Arxis
7D
4.0%
1Y
n/a
GE
US$314.64
General Electric
7D
-0.8%
1Y
25.4%
LMT
US$512.03
Lockheed Martin
7D
-3.6%
1Y
6.2%
ATI
US$179.94
ATI
7D
5.9%
1Y
116.8%
FLY
US$39.78
Firefly Aerospace
7D
-30.6%
1Y
n/a
CRS
US$487.05
Carpenter Technology
7D
5.7%
1Y
97.5%
AVAV
US$191.47
AeroVironment
7D
5.6%
1Y
4.4%
Narrative Update • Jun 03

AVAV: SCAR Setback Will Ultimately Support Future Counter Drone And Space Momentum

Analysts have kept AeroVironment's fair value estimate steady at $235.00, while updating their models to reflect a higher discount rate, faster projected revenue and profit growth, and a lower future P/E multiple following recent price target cuts tied to SCAR program uncertainty and mixed Q3 results. Analyst Commentary Recent Street research on AeroVironment has centered on Q3 results, the termination of the SCAR program, and questions about the mix of businesses within the portfolio.
BA
US$210.58
Boeing
7D
-6.1%
1Y
-0.7%
RKLB
US$114.70
Rocket Lab
7D
-23.7%
1Y
326.2%
Seeking Alpha • Jun 03

Rocket Lab's Biggest Opportunity Is Still Ahead

Summary Rocket Lab's Space Systems generated $136.7 million in Q1 revenue versus $63.7 million from launch services, highlighting a major business shift. Revenue surged 63.5% year-over-year to a record $200.3 million, while backlog exceeded $2.2 billion, up more than 100%. Neutron remains the primary catalyst, with five launch contracts already secured despite the rocket not yet flying. Using $1.1-1.2 billion in 2027 revenue and a 60-65x EV/Sales multiple supports a $120-140 valuation range. Read the full article on Seeking Alpha
AXON
US$481.48
Axon Enterprise
7D
23.0%
1Y
-38.3%
RTX
US$172.55
RTX
7D
-2.3%
1Y
24.5%
Seeking Alpha • Jun 02

Forget The SpaceX Hype: The #1 Hidden Space Defense Stock To Buy Now

Summary Steven Cress joins Nicole Benjamin on The Weekly Grade to expose why the media hype around recent aerospace giants is blinding investors to a much better, cash-rich space defense stock. Discover the specific free cash flow trends driving this industry giant's massive backlog. Read the full article on Seeking Alpha
NOC
US$526.06
Northrop Grumman
7D
-4.6%
1Y
7.1%
HEI
US$329.11
HEICO
7D
6.4%
1Y
9.7%
Narrative Update • Jun 02

HEI: Elevated P/E Will Constrain Returns Despite Record Earnings Momentum

Analysts have modestly raised their price target on HEICO to $302.69 from $295.97, reflecting updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News HEICO reported record Q2 fiscal 2026 results, with net income of US$233.8 million and net sales up 25%, supported by 18% consolidated organic growth and contributions from recent acquisitions.
MOG.A
US$373.94
Moog
7D
9.0%
1Y
103.2%
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).
MRCY
US$111.59
Mercury Systems
7D
14.9%
1Y
116.3%
Narrative Update • May 31

MRCY: Contract Wins And Margin Gains Will Support Steadier Future Earnings Quality

Mercury Systems' analyst price targets have been raised by between $4 and $15, with analysts pointing to updated expectations for revenue growth, profitability, and a lower future P/E multiple as key drivers of the change. Analyst Commentary Recent Street research on Mercury Systems has centered on a series of price target revisions, with several bullish analysts lifting their targets by between US$4 and US$15, and one earlier cut of US$5 still in the mix.
HWM
US$248.63
Howmet Aerospace
7D
-3.6%
1Y
42.9%