Anyone have reports on the aerospace/defense industry, besides S&P’s industry report? Not looking for anything company specific, just industry wide. Thanks in advance
Do you have anything to trade for them?
Stifel Nicolaus has some pretty good ones.
What do you want cjones65? Give me your email and we will talk. niraj_a: do you have access to Stifel’s research?
Have you considered demand side information, such as defence white papers, planned acquisition pipelines, contracts that are out for RFPs. Are you looking globally, at the US, Western?
aussie_jaco: I’m looking mainly at US, but with an international focus as well as many US based a&d companies have global operations. Do you have any good sites/resources for the demand side info. you mentioned? Thanks
Depending how much time you have to devote to this and how detailed you want to get the general defense side of the coin (which in the US section is a large chunk of the trade) can be broken up into two section. Domestic consumption and foreign consumption. You can generalize that the majority of domestic consumption is done by the US DoD, which in the most part it is, but note there are significant sales to law enforcement and other agencies of goods that are considered defence and aerospace. To get a good idea of this the US DoD Comptroller has some good information on what they have spent and what they plan to spend. Though with the upcoming election and financial issues the government might reassign some spending priorities that said with the overtures of wanting to increase government spending and the prescriptive local content laws defence and aerospace is a great way to spend big bucks for the economy. http://www.defenselink.mil/comptroller/defbudget/fy2009/index.html The other side of the coin the foreign sales is nicely wrapped up each year for a congress report in “section 655”, remember that companies as well as the US military sell goods overseas. This is a good way to look at the trends in the global defence industry, of note this does not cover non-military rated aircraft, so another source would be needed to get those numbers. There is a website run by a bunch of nutters called the Federation of American Scientists www.fas.org for better or worse these guys have lots of consolidated reports including all the section 655 data. One last word of warning, just be careful with using the value of some of the transactions as not all of them are arms length transactions, but I guess for the level of detail that you are looking for it would not make a noticeable difference.