The aerospace/defense industry serves, as its name represents, two main markets: Aerospace, which largely comprises the production, sale and service of commercial aircraft. And Defense, which is dependent on the nation's need for military weapons and systems designed to operate on land, sea and in the air. Also included in this industry is the production of general aircraft (mostly for business use) and space vehicles, usually satellites, for both military and commercial use.1
1. Industry Analysis: Aerospace and Defense, Value Line Inc.