The consulting firm KPMG has prepared a new edition of the report ‘Economic and Social Impact of the Defense, Security, Aeronautics, and Space Industry’ for the Spanish Association of Defense, Security, Aeronautics, and Space Technology Companies (TEDAE), of which ACATEC and Formecal, companies whose merger has given rise to PMA – Precision Manufacturing Aerospace, presented in Madrid on November 21. According to this report, which compiles data from 2022, these industries achieved a combined turnover of 12,135 million euros, a 4.6% increase compared to 2021.
The growth in revenue from Civil Aeronautics and the accelerated expansion of Military Aeronautics have allowed the Aeronautics sector to remain one of the main drivers of TEDAE’s consolidated turnover. Additionally, the Security sector stands out with a 34% increase, and the Space sector has surpassed 1,000 million euros in turnover for the first time, marking an almost 9% increase compared to 2021.
The Defense, Security, Aeronautics, and Space sectors have demonstrated their strategic importance to the Spanish economy, generating wealth, societal returns, and value through their supply chain, which significantly impacts other complementary industrial sectors. In 2022, this industry contributed 17,392 million euros to the national GDP, accounting for 1.31% of the total, considering direct, indirect, and induced effects. Furthermore, its contribution to industrial GDP is 6%. The estimated fiscal revenue from TEDAE-affiliated companies is 2,610 million euros, representing 1% of national revenue.
This industry creates high-quality and stable employment, with an average salary 85% higher than the national average, according to 2021 data from the National Institute of Statistics (INE). The Defense, Security, Aeronautics, and Space industry is responsible for 53,541 direct jobs, which increases to 210,604 jobs when considering both direct and indirect employment.
These sectors drive the economy, generate wealth, and make a significant commitment to innovation, enhancing Spain’s competitiveness and moving closer to strategic and technological autonomy. According to the KPMG study, companies in Defense, Security, Aeronautics, and Space invested 1,169 million euros in R&D in 2022, equivalent to 12.2% of the total investment in Spain. This figure, 13.5% higher than during the pandemic, positions TEDAE industries as the largest contributors to innovation, demonstrating their resilience and strong commitment to research and development. This allows Spanish companies to become global leaders by developing cutting-edge technology and products entirely manufactured in Spain, destined for export to other markets. The report reflects that 50% of the consolidated turnover in 2022 corresponds to exports.
Ricardo Martí Fluxá, president of TEDAE, stated, “Defense, Security, Aeronautics, and Space are full-cycle industries that form supply chains and consolidate a leading industrial base.” He added, “This report demonstrates that these sectors are the pillars of the new economic model that Spain needs, generating significant economic benefits and driving an auxiliary industry present in all regions of Spain.”
Begoña Cristeto, partner responsible for Automotive, Industry, and Chemistry at KPMG in Spain, emphasized the strategic nature of the Defense, Security, Aeronautics, and Space sectors and the importance of preserving this industrial fabric in Spain. She also stated, “This report is essential for measuring the positive impact of these industries on society.”
Source: TEDAE
