Tighter military budgets in the U.S. and Europe have reduced revenues for the top weapons makers...

|By:, SA News Editor

Tighter military budgets in the U.S. and Europe have reduced revenues for the top weapons makers by nearly 1% in H1, and are likely to continue to depress sales for the remainder of the year. The top 20 global aerospace and defense companies reported a $1.3B drop in revenues in the first half, following a 3.3% decline in 2011. The decline however, was offset by record-setting production of commercial aircraft, driving commercial revenues 14.9% higher and helping to increase overall revenues in the combined A&D sector by $7.2B, or 5.5%, over the same period.