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The Defense, Security, Aeronautics and Space industry contributed more than 17,096 million euros to Spain’s GDP in 2021.

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KPMG has prepared for TEDAE a new edition of the report on the economic and social impact of the Defense, Security, Aeronautics and Space industry on the Spanish economy in 2021. A year marked by the beginning of the post-pandemic recovery in which the sectors that TEDAE represents have proved resilient by contributing to Spain’s GDP 17,096 million euros in 2021, 1.4% of the total, taking into account direct, indirect and induced effects. Likewise, the turnover of these sectors confirms that the growing trend prior to the pandemic has returned, reaching 11,594 million euros in 2021.

The Defense, Security, Aeronautics and Space sectors have demonstrated their strategic nature for the Spanish economy both for having the capacity to generate wealth on their own, for the return to society and for the value generated by their supply chain, which has a great impact on other complementary industrial sectors. In 2021, TEDAE industries had an indirect effect of €5.6 billion on other sectors of the economy. As for the tax revenue of the companies that make up TEDAE, the report estimates it at €2,392 million, which represents 1.1% of the national revenue.

As an example of the companies’ efforts to preserve talent and the quality of their jobs, the Defense, Security, Aeronautics and Space industry is responsible for almost 50,000 direct jobs. And this figure rises to 202,500 direct and indirect jobs in the Spanish economy as a whole, 5% higher than the previous year’s figure. In addition, it is a quality employment where the average salary is 85% higher than the national average, according to INE data.

The commitment to innovation is a priority activity in TEDAE industries, as it allows to have a competitive industry, a driver of the economy and generates wealth. In this sense, according to the KPMG study, Defense, Security, Aeronautics and Space companies have invested 1,177 million euros in R&D&I in 2021, equivalent to 13% of the total investment in Spain. This figure, 14% higher than the previous year, positions TEDAE industries as those that allocate the most resources to innovation and demonstrates their great resilience and enormous commitment to research and development. This allows Spanish companies to position themselves as world leaders that develop cutting-edge technology and products fully developed in Spain that we can export to other markets. And this is demonstrated by the report, which shows that 47% of the consolidated turnover in 2021 corresponds to exports.

Ricardo Martí Fluxá, president of TEDAE, states that “these figures show the beginning of the economic recovery and that we have a strong and resilient industry, engine of the national economy. The companies that make up TEDAE have continued to innovate and invest to generate cutting-edge technology and quality employment. Likewise, to continue at the technological forefront, these industries need stable and continuous budget plans that provide greater predictability to investments and programs to be initiated, setting long-term financial commitments.”

Source: TEDAE