Defense & Aerospace Report
Defense & Aerospace Report Podcast [Dec 22, ’23 Business Report] Year in Review
Dec 22, 2023
Guests Dr. Rocket Ron Epstein, Sash Tusa, and Richard Aboulafia discuss the key events of 2023 shaping the coming year. Topics include defense spending, market performance, concerns for Boeing's future, government intervention, industry transformations, collaboration, and a year in review including the collapse of Russia as a military exporter.
44:28
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Quick takeaways
- The commercial sector outperformed the defense sector in 2023, with Boeing's stock rising by 37% while some defense companies saw declines, except for Leonardo DRS which experienced significant growth.
- Korea's defense industry witnessed success and emerged as a major exporter, winning contracts from Poland and Australia, with the potential to further increase its influence through involvement in Canada's submarine program.
Deep dives
The impact of the economy on the defense industry
Despite expectations of a recession, the recession did not materialize. The probability of a soft landing for the economy increased, leading to a positive market turn. Comparing the performance of commercial and defense sectors, commercial sectors performed better, with Boeing's stock rising by 37% and some defense companies experiencing declines. However, Leonardo DRS saw significant growth.
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