Published by Global Banking and Finance Review
Posted on December 2, 2025
2 min readLast updated: January 20, 2026
In 2024, Europe's aerospace and defence turnover grew by 10.1% to $378 billion, driven by increased defence spending and recovery in civil aeronautics.
BRUSSELS, Dec 2 (Reuters) - 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.
ASD President Micael Johansson urged the European Union to adopt an industrial strategy for civil aeronautics and sustain defence investment, warning that Europe's leadership in high-tech sectors "cannot be taken for granted".
R&D spending hit €25.2 billion, up by 9.4%, ASD said adding that Europe still lags global rivals in innovation.
($1 = 0.8615 euros)
(Reporting by Andrew Gray; Editing by Benoit Van Overstraeten)
Turnover refers to the total revenue generated by a company from its business activities during a specific period, typically measured annually. It is a key indicator of a company's financial performance.
Direct employment refers to jobs that are created directly by a company or organization, as opposed to indirect employment, which includes jobs created in the supply chain or through related businesses.
Research and Development (R&D) involves the activities companies undertake to innovate and introduce new products or services. It is crucial for maintaining competitiveness and driving growth.
The aerospace industry includes companies and organizations involved in the design, manufacture, and maintenance of aircraft, spacecraft, and related systems and equipment.
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