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| afghanistan (Photo credit: The U.S. Army) |
The U.S. is the world’s largest aerospace and defense market. The growth of this sector is heavily tied to the spending outlook of the government. This year, Congress has passed the defense authorization bill for $662 billion which mainly comprises $529.6 billion for core spending. The bill also includes a provision of $115.5 billion for the wars in Afghanistan and Iraq and $16.9 billion for the Department of Energy’s defense programs.
The U.S. alone accounts for 40% of total global spending on defense. But with the U.S. government deciding to pare the defense budget, and with drawdown of troops from Afghanistan and Iraq, major defense companies now have to scout for more business from overseas destinations instead (read Three ETFs For An Iranian Crisis)... Continue to read.
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