Greater Los Angeles Aerospace & Defense Report Mid-Year 2024

-Worldwide demand for aerospace and defense products and services is on the rise. The Department of Defense has awarded over $17 billion in direct contracts to California for the 2024 fiscal year so far, second only to Virginia.

-Employment in aerospace and aerospace parts production in Los Angeles County recently reached a 20-year high at almost 44,000 jobs. 

-Greater Los Angeles (GLA) is uniquely positioned to provide advanced R&D and manufacturing for the aerospace and defense sector with its national strategic sites, research university network, historic aerospace heritage, and diverse manufacturing footprint.

-GLA is expected to grow its prominence as an aerospace and defense hub as demand for space products and services increases. Through the first half of 2024, leasing activity has totaled roughly 1.0 million sq. ft. and is on pace to exceed the totals achieved in 2023 and 2022.