Europe’s aerospace and defence turnover jumped 10.1% in 2024

Europe’s aerospace and defence industries grew sharply in 2024, with turnover up 10.1% to 325.7 billion euros ($378.04 billion) and direct employment hitting a record 1.1 million, Camille Grand, secretary general of industry group ASD said on Tuesday.
Defence led the surge with turnover up 13.8% to 183.4 billion euros, driven by higher spending and efforts to bolster security driven by the war in Ukraine, Grand told reporters.
Civil aeronautics rose 6% to €129.1 billion, helped by air traffic recovery and demand for fuel-efficient aircraft, though supply-chain bottlenecks and labour shortages persisted. The space sector’s turnover increased by 3.1% to €13.2 billion.
The aerospace and defence sector, which includes more than 4,000 companies, supported nearly 4.2 million jobs and 779 billion euros in economic activity across Europe, ASD said.