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Global defense sales fell 3.3% last year versus 2010 according to a study by Deloitte, driven by...

Global defense sales fell 3.3% last year versus 2010 according to a study by Deloitte, driven by shifting government spending priorities, a weak global economy and the winding down of military engagements in Iraq and Afghanistan. The decline masked a 2.3% overall increase in total global aerospace and defense revenues, largely driven by higher airline production rates. Going forward, the declining sales mean defense companies are going to continue to find it hard to maintain revenues, never mind grow this year.
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