TYSONS CORNER, VA, June 21, 2017 â DeloitteÂ has said in a new report that revenue in the global aerospace and defense sector grewÂ 2.4 percentÂ to reach $674.4 billion in 2016 led by the European commercial and U.S. defense subsectors, ExecutiveBiz reported Friday.
The company said ThursdayÂ revenue for the global defense subsector in 2016 climbed by 2.1 percent to $351.3 billion.
“Across the globe, and especially in the U.S., we have seen an increase in military spending which has led to another strong year for the defense sector,” said Robin Lineberger, global A&D leader at Deloitte.
“Contributing to this strong year is the 3.1-percent growth in U.S. defense revenues resulting from the 3.6-percent increase in funding from the U.S. Department of Defense, the subsectorâs largest customer.”
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