“Since the domestic aerospace and defense sector is facing budget cuts and a constrained spending environment from the U.S. government, the industry is looking for growth from international orders,” Zacks reported. “Additionally, a number of new emerging markets as well as developed nations, such as India, Japan, the United Arab Emirates, Saudi Arabia and Brazil, are boosting defense spending and generating business for the U.S. aerospace and defense companies.”
Still, Boeing CEO Jim McNerney said the company has not yet seen most of the impact from U.S. budget sequestration on its earnings, Reuters reports.
“We are not out of the woods at all,” he said in a conference call Wednesday. “We are entering the woods.”
iShares US Aerospace and Defense ETF
