Boeing On Top

Boeing has regained its place as the world's largest aerospace and defense contractor, according to a study released today by Deloitte.

"Boeing had higher sales revenue than EADS (in 2009) and regained its position as the world's largest A&D company, reversing its 2nd place performance in 2008," the report states.

Deloitte's "2009 Global Aerospace & Defense Industry Performance Wrap-Up" looks at "the financial performance of the industry by assessing the key metrics of performance related revenue growth, operating earnings and margin, asset effectiveness, cash generation, sales bookings, employee productivity, and total level of employment," according to a company statement announcing the report's release. Specifically:

The study evaluated the 2009 financial performance of the 91 global A&D companies with revenues exceeding $500 million; and revealed that in spite of the 2009 worldwide economic recession, the A&D industry has continued to demonstrate its resilience by posting stable revenue. Financial performance varied depending on subsector and region-specific factors impacting key metrics.

Other key findings include:

* The global A&D industry slowed in 2009 compared to the record performance of the industry in 2008 and several years of compounded growth
* American firms grew faster in 2009, at 3.4 percent, than European companies, whose revenue fell by 2.1 percent. Executing strategic leverage in the acquisition space
* Sales bookings (Book-to-Bill ratio) fell significantly from 1.41x in 2008 to 0.89x in 2009, a substantial 36.9 percent decrease, due to fewer new bookings and existing order cancellations, portending slower times ahead.