Arlington, Va. (Feb. 20, 2024) – In case you missed it, Aerospace Industries Association (AIA) President and CEO Eric Fanning joined CNBC and Bloomberg TV to tout American industry on display at the 2024 Singapore Airshow and the importance of the region to both the aerospace and defense industry and global security.
During the interviews, Fanning emphasized the need to invest in national defense for the United States and our allies and partners, calling on Congress to provide stability and consistent demand signals to its industry partners through not only the regular budget process but also by passing a supplemental funding bill. “There is a lot of money in that supplemental that…stays in America, supports American jobs, helps the Pentagon replenish the supplies that it has and modernize it at the same time and build and strengthen the industrial base,” he told CNBC’s Lin Lin.
Fanning discussed the state of the industry’s supply chain following the COVID-19 pandemic and amid rising global tensions. “It took us years to get to where we are, which is a really lean supply chain, whichkept prices very low, but it failed to recognize that capacity is a capability itself for the military,” Fanning told Bloomberg TV’s Avril Hong. “Then COVID hit and really strained the supply chain because it is global…So a lot is being done to get out of that. [Our companies] are certainly focused on trying to ramp up faster, because there’s so much activity taking place around the globe.”
Fanning also commented on China’s showing in Singapore and encouraged competition, arguing that American industry always shows well. “We stand by our products. The demand around the world for aerospace and defense products out of the United States is strong. That competition just helps us showcase that quality,” he told CNBC.
You can watch the full CNBC interview here.
You can watch the full Bloomberg TV interview here.
