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Industry Trends: Space Vehicle and Missile Manufacturing
In January, the US Army and Navy successfully launched AGM- 114L Longbow missiles vertically against maritime targets.
Te Space Vehicle and Missile Manufacturing industry’s landscape has dramatically changed in recent years. Te winding down of US combat operations in the Middle East, coupled with the effects of sequestration, have squeezed the defense budget, including spending on missiles and space systems. Sequestration has also reduced funding for NASA, which has hurt the civil space program. However, these austere conditions are beginning to encourage competition in the space sector, potentially allowing the commercial space segment to carve out a larger share of the industry in the future. Spending cuts are also pushing industry operators to focus more on exports as a means to offset declining demand at home.
US Government Drives Demand US government spending on defense and space exploration drives demand for the diverse product offerings of the Space Vehicle and Missile Manufacturing indus-
Maksim Soshkin Industry Analyst IBISWorld New York, NY