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Announcement:

Moody's: Global aerospace & defense sector outlook remains positive as profits set to grow 7-9%

04 Jun 2018

Frankfurt am Main, June 04, 2018 -- Strong expected operating profit growth of 7% to 9% will underpin the continued positive outlook on the global aerospace and defense sector over the next 12-18 months, says Moody's Investors Service in a report published today.

Moody's report, "Aerospace and defense -- Global: Outlook still positive on aircraft delivery ramp-up, robust defense spending," is available on www.moodys.com. Moody's subscribers can access this report via the link provided at the end of this press release. The rating agency's report is an update to the markets and does not constitute a rating action.

"Our positive outlook on the global aerospace and defense sector reflects expectations that robust growth in both commercial aircraft deliveries and defense spending, led by the US, will drive operating profits higher into 2019," says Jeanine Arnold, Vice President -- Senior Credit Officer at Moody's.

Moody's expects much stronger earnings growth among European companies than their US counterparts because of weak year-earlier comparisons, with Airbus SE (A2 stable) and European suppliers poised to reap benefits following R&D costs linked to its A320neo and A350 projects in 2017.

The strong commercial aircraft order backlog -- of around 9x annual deliveries for The Boeing Company (Boeing, A2 stable) and Airbus combined --will support the sharp increase in production rates the airframers have planned for 2019.

Global defense spending continues to grow on the back of heightened geopolitical risks and tensions in the Middle East and North Korea, primarily benefiting aircraft procurement, shipbuilding and missile defense. Cyber-security programs are also garnering more focus as related threats increase.

However, recent US protectionist policies are creating some uncertainty as to how they might affect the future operations and financial performance of aerospace and defense companies, while Brexit could further disrupt the European supply chain because of increased trade barriers, which could delay delivery of parts in an already-strained supply chain.

Subscribers can access the report at: http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1125435

NOTE TO JOURNALISTS ONLY: For more information, please call one of our global press information hotlines: London +44-20-7772-5456, New York +1-212-553-0376, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney +61-2-9270-8141, Mexico City 001-888-779-5833, São Paulo 0800-891-2518, or Buenos Aires 0800-666-3506. You can also email us at mediarelations@moodys.com or visit our web site at www.moodys.com.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Jeanine Arnold
VP - Senior Credit Officer
Corporate Finance Group
Moody's Deutschland GmbH
An der Welle 5
Frankfurt am Main 60322
Germany
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454

Falk Frey
Senior Vice President
Corporate Finance Group
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454

Releasing Office:
Moody's Deutschland GmbH
An der Welle 5
Frankfurt am Main 60322
Germany
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454

No Related Data.
© 2019 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.

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