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112-441: The aircraft industry is the industry supporting aviation by building aircraft and manufacturing aircraft parts for their maintenance . This includes aircraft and parts used for civil aviation and military aviation . Most production is done pursuant to type certificates and Defense Standards issued by a government body. This term has been largely subsumed by the more encompassing term: " aerospace industry". In 2015

224-525: A laissez-faire philosophy and free-market fiscal policy. Reagan's taxation policies resembled those instituted by President Calvin Coolidge and Treasury Secretary Andrew Mellon in the 1920s. Reagan's team was also strongly influenced by contemporary economists such as Arthur Laffer , who rejected the then-dominant views of Keynesian economists . Reagan relied on Laffer and other economists to argue that tax cuts would reduce inflation, which went against

336-451: A Republican) were eager to back some of Reagan's conservative policies. Throughout 1981, Reagan frequently met with members of Congress, focusing especially on winning support from conservative Southern Democrats. Reagan also benefited from a conservative majority in the House during his first two years as president, with an estimated 230 votes during the 97th Congress, although this changed after

448-492: A balanced budget during his time in office. In an effort to lower the national debt, Congress passed the Gramm–Rudman–Hollings Balanced Budget Act , which called for automatic spending cuts if Congress was unable to eliminate deficits through the regular budget-making process. However, Congress found ways around the automatic cuts and deficits continued to rise, ultimately leading to the passage of

560-583: A campaign promise to name the first woman to the Supreme Court. Democrats, who had planned to vigorously oppose Reagan's nominations to the Supreme Court, approved of the nomination of O'Connor. However, the Christian right was astonished and dismayed with O'Connor, who they feared would not overturn the Supreme Court's decision in Roe v. Wade , which had established abortion as protected from government interference via

672-464: A characterization by Carter of his record regarding Medicare, Reagan replied with a phrase that helped define the election and endure in the political lexicon: " There you go again ." Though the race had been widely regarded as a close contest, Reagan won over the large majority of undecided voters. Reagan took 50.7% of the popular vote and 489 of the 538 electoral votes. Carter won 41% of the popular vote and 49 electoral votes, while Anderson won 6.6% of

784-595: A focus of his administration, but he came to support a package of reforms sponsored by Republican Senator Alan Simpson and Democratic Congressman Romano Mazzoli , which he signed into law as the Immigration Reform and Control Act in November 1986. The act made it illegal to knowingly hire or recruit illegal immigrants , required employers to attest to their employees' immigration status, and granted amnesty to approximately three million illegal immigrants who had entered

896-474: A former general who had served as chief of staff to Richard Nixon , as his first secretary of state. Other major Cabinet appointees included Secretary of Defense Caspar Weinberger , a former Nixon cabinet official who would preside over an increase in defense spending, and Secretary of the Treasury Donald Regan , a bank executive. Reagan selected David Stockman , a young congressman from Michigan , as

1008-491: A high of nearly 11% in 1982, poverty rate rose from 11.7 percent to 15 percent. The country emerged from recession in 1983, but not all shared equally in the economic recovery, and economic inequality and the number of homeless individuals both increased during the 1980s. Fearful of damaging confidence in the economic recovery, Reagan nominated Volcker to a second term in 1983, and Volcker remained in office until 1987. Inflation dropped to approximately 3.5% in 1985, while

1120-459: A larger landslide. Reagan served two terms and was succeeded by his vice president, George H. W. Bush , who won the 1988 presidential election . Reagan's 1980 landslide election resulted from a dramatic conservative shift to the right in American politics, including a loss of confidence in liberal , New Deal , and Great Society programs and priorities that had dominated the national agenda since

1232-473: A law creating new federal judicial positions in 1984, Reagan had appointed nearly half of the federal judiciary by the time he left office in 1989. On March 30, 1981, only 69 days into the new administration, Reagan, his press secretary James Brady , Washington police officer Thomas Delahanty , and Secret Service agent Tim McCarthy were struck by gunfire from would-be assassin John Hinckley Jr. outside

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1344-406: A number of tax breaks. The top rate was dropped to 28%, but capital gains taxes were increased on those with the highest incomes from 20% to 28%. The increase of the lowest tax bracket from 11% to 15% was more than offset by expansion of the personal exemption, standard deduction , and earned income tax credit . The net result was the removal of six million poor Americans from the income tax roll and

1456-449: A reduction of income tax liability at all income levels. The net effect of Reagan's tax bills was that overall tax burden held steady at roughly 19 percent of gross national product . Reagan prioritized tax cuts over spending cuts, arguing that lower revenue would eventually require lower spending. Nonetheless, Reagan was determined to decrease government spending and roll back or dismantle Great Society programs such as Medicaid and

1568-419: A similar alliance with either Embraer with its E-jet E2 or Mitsubishi Heavy Industries and its MRJ . On 21 December, Boeing and Embraer confirmed to be discussing a potential combination with a transaction subject to Brazilian government regulators, the companies' boards and shareholders approvals. The weight of Airbus and Boeing could help E2 and CSeries sales but the 100-150 seats market seems slow. As

1680-522: A single group or company , its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. For example the International Standard Industrial Classification (ISIC) – used directly or through derived classifications for the official statistics of most countries worldwide – classifies "statistical units" by the "economic activity in which they mainly engage". Industry

1792-508: A special program to restore U.S. competitiveness across all U.S. industries, Project Socrates , contributed to employment growth as the U.S. aerospace industry captured 72 percent of world aerospace market. By 1999 U.S. share of the world market fell to 52 percent. In the European Union , aerospace companies such as Airbus , Safran , BAE Systems , Thales , Dassault , Saab AB , Terma A/S , Patria Plc and Leonardo are participants in

1904-519: A tiny niche market and get mostly re-classified into another industry using new techniques. At the same time, entirely new industries may branch off from older ones once a significant market becomes apparent (as the semiconductor industry became distinguished from the wider electronics industry ). Industry classification is valuable for economic analysis because it leads to largely distinct categories with simple relationships. Through these classifications, economists are able to compare companies within

2016-455: Is Japan ), strong transportation infrastructure (#5, #1 is Hong Kong ), a healthy economy (#10, #1 is China ), but high costs (#7, #1 is Denmark ) and average tax policy (#36, #1 is Qatar ). Following were Canada , Singapore , Switzerland and United Kingdom . Within the US, the most attractive was Washington state , due to the best Industry (#1), leading Infrastructure (#4, New Jersey

2128-402: Is #1) and Economy (#4, Texas is #1), good labor (#9, Massachusetts is #1), average tax policy (#17, Alaska is #1) but is costly (#33, Montana is #1). Washington is tied to Boeing Commercial Airplanes , earning $ 10.3 billion, is home to 1,400 aerospace-related businesses, and has the highest aerospace jobs concentration. Following are Texas, Georgia , Arizona and Colorado . In the US,

2240-508: Is based. Several consolidations took place in the aerospace and defense industries over the last few decades. Airbus prominently illustrated the European airliner manufacturing consolidation in the late 1960s. Between 1988 and 2010, more than 5,452 mergers and acquisitions with a total known-value of US$ 579 billion were announced worldwide. In 1993, then United States Secretary of Defense Les Aspin and his deputy William J. Perry held

2352-469: Is the successor company to numerous British aircraft manufacturers which merged throughout the second half of the 20th century. Many of these mergers followed the 1957 Defence White Paper . Marconi Electronic Systems , a subsidiary of the General Electric Company plc , was acquired by British Aerospace for US$ 12.3 billion in 1999 merger, to form BAE Systems . In 2002, when Fairchild Dornier

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2464-549: Is then defined as "set of statistical units that are classified into the same ISIC category". However, a single business need not belong just to one industry, such as when a large business (often referred to as a conglomerate ) diversifies across separate industries. Other industry classification systems include the North American Industry Classification System (NAICS), which was developed through partnerships with North American countries such as

2576-580: The 1980 Republican presidential primaries . After Bush won the Iowa caucuses, he became Reagan's primary challenger, but Reagan won the New Hampshire primary and most of the following primaries, gaining an insurmountable delegate lead by the end of March 1980. Ford was Reagan's first choice for his running mate, but Reagan backed away from the idea out of the fear of a "co-presidency" in which Ford would exercise an unusual degree of power. Reagan instead chose Bush, and

2688-469: The 1982 congressional elections . Compared to other midterm elections , the losses were relatively small for the party holding the presidency, but conservative Democrats were less open to Reagan's initiatives after 1982. As deficits continued to be an issue, Reagan signed another bill that raised taxes, the Deficit Reduction Act of 1984 . With Donald Regan taking over as Chief of Staff in 1985,

2800-548: The 40th president of the United States began with his first inauguration on January 20, 1981, and ended on January 20, 1989. Reagan, a Republican from California , took office following his landslide victory over Democrat incumbent president Jimmy Carter and independent congressman John B. Anderson in the 1980 presidential election . Four years later, in the 1984 presidential election , he defeated former Democratic vice president Walter Mondale , to win re-election in

2912-485: The A320 . Tier 1 consolidation also affects engine manufacturers : GE Aerospace acquired Avio in 2013 and Rolls-Royce took control of ITP Aero . Industry (economics) In macroeconomics , an industry is a branch of an economy that produces a closely related set of raw materials , goods , or services . For example, one might refer to the wood industry or to the insurance industry . When evaluating

3024-500: The Airbus A380 , less than 100 major suppliers outsource 60% of its value, even 80% on the A350 . Boeing embraced an aggressive Tier 1 model for the 787 but with its difficulties began to question why it was earning lower margins than its suppliers while it seemed to take all the risk, ensuing its 2011 Partnering for Success initiative, as Airbus initiated its own Scope+ initiative for

3136-566: The Bombardier Global Express pioneered the "Tier 1" supply chain model inspired by automotive industry , with 10-12 risk-sharing limited partners funding around half of the development costs. The Embraer E-Jet followed in the late 1990s with fewer than 40 primary suppliers. Tier 1 suppliers were led by Honeywell , Safran , Goodrich Corporation and Hamilton Sundstrand . In the 2000s, Rolls-Royce reduced its supplier count after bringing in automotive supply chain executives. On

3248-474: The CSeries partnership between Airbus and Bombardier Aerospace could trigger a daisy chain of reactions towards a new order. Airbus gets a new, efficient model at the lower end of the narrowbody market which provides the bulk of airliner profits and can abandon the slow selling A319 while Bombardier benefits from the growth in this expanded market even if it holds a smaller residual stake. Boeing could forge

3360-644: The Department of Defense and NASA are the two biggest consumers of aerospace technology and products. The Bureau of Labor Statistics of the United States reported that the aerospace industry employed 444,000 wage and salary jobs in 2004, many of which were in Washington and California, this marked a steep decline from the peak years during the Reagan Administration when total employment exceeded 1,000,000 aerospace industry workers. During that period of recovery

3472-539: The Firearm Owners Protection Act , which amended the Gun Control Act of 1968 , prohibiting the transfer or possession of machine guns . In 1989, Reagan said "I do not believe in taking away the right of the citizen to own guns for sporting, for hunting and so forth, or for home defense; but I do believe that an AK-47 , a machine gun, is not a sporting weapon or needed for defense of a home." Reagan

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3584-699: The MX missile , and the 600-ship Navy . In response to Soviet deployment of the SS-20 , Reagan oversaw NATO 's deployment of the Pershing missile in West Germany. The president also strongly denounced the Soviet Union and Communism in moral terms, describing the Soviet Union as an " evil empire ." Despite this heavy rhetoric, the Reagan administration continued arms control talks with

3696-575: The Office of Economic Opportunity . In August 1981, Reagan signed the Omnibus Budget Reconciliation Act of 1981, which cut federal funding for social programs like food stamps , school lunch programs , and Medicaid. The Comprehensive Employment and Training Act , which had provided for the employment of 300,000 workers in 1980, was also repealed, and the administration tightened eligibility for unemployment benefits . Notably absent from

3808-446: The Office of National Drug Control Policy . Critics charged that Reagan's policies promoted significant racial disparities in the prison population, were ineffective in reducing the availability of drugs or crime on the street, and came at a great financial and human cost for American society. Supporters argued that the numbers for adolescent drug users declined during Reagan's years in office. On May 19, 1986, President Reagan signed

3920-592: The Omnibus Budget Reconciliation Act of 1990 . Reagan took office in the midst of poor economic conditions, as the country experienced stagflation , a phenomenon in which both inflation and unemployment were high. The economy experienced a brief period of growth early in Reagan's first year in office, but plunged into a recession in July 1981. As the recession continued in the first two years of Reagan's presidency, many within Reagan's administration blamed

4032-561: The Professional Air Traffic Controllers Organization (PATCO), which consisted of federal employees, voted to go on a labor strike in hopes of receiving better pay and benefits. After the vote, Reagan announced that the strikers would be fired if they did not return to work within forty-eight hours. Federal law forbid government employees from striking. After the deadline passed, Reagan fired over 10,000 air traffic controllers, while approximately 40 percent of

4144-603: The Reagan Era . Even prior to becoming president, Reagan was the leader of a dramatic conservative shift that undercut many of the domestic and foreign policies that had dominated the national agenda for decades. A major factor in the rise of conservatism was the growing distrust of government in the aftermath of the Watergate scandal . While distrust of high officials had been an American characteristic for two centuries, Watergate engendered heightened levels of suspicion and encouraged

4256-705: The Soviet invasion of Afghanistan . Reagan feared that the Soviet Union had gained a military advantage over the United States, and the Reagan administration hoped that heightened military spending would grant the U.S. military superiority and weaken the Soviet economy. Reagan ordered a massive buildup of the United States Armed Forces , directing funding to the B-1 Lancer bomber, the B-2 Spirit bomber , cruise missiles ,

4368-475: The Tax Reform Act of 1986 , simplifying the tax code by reducing rates and removing several tax breaks, and the Immigration Reform and Control Act of 1986 , which enacted sweeping changes to U.S. immigration law and granted amnesty to three million illegal immigrants . Reagan also appointed more federal judges than any other president, including four Supreme Court Justices. Reagan's foreign policy stance

4480-641: The Washington Hilton Hotel . Although Reagan was initially reported to be "close to death" upon arrival at George Washington University Hospital , he underwent surgery and recovered quickly from a broken rib, a punctured lung, and internal bleeding . Reagan was released from the hospital on April 11, becoming the first serving president to survive being wounded in an assassination attempt. The failed assassination attempt had great influence on Reagan's popularity; polls indicated his approval rating to be around 73%. Many pundits and journalists later described

4592-457: The early 1980s recession , which cut into federal revenue. Unable to win further domestic spending cuts, and pressured to address the deficit, Reagan was forced to raise taxes after 1981. Nonetheless, the national debt more than tripled between fiscal year 1980 and fiscal year 1989, going from $ 914 billion to $ 2.7 trillion, while national debt as a percentage of GDP rose from 33 percent in 1981 to 53 percent in 1989. Reagan never submitted

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4704-548: The government's intelligence community ; mandated rules for spying on United States citizens, permanent residents, and on anyone within the United States; and also directed the Attorney General and others to create further policies and procedures for what information intelligence agencies can collect, retain, and share. Reagan escalated the Cold War, accelerating a reversal from the policy of détente which had begun in 1979 after

4816-414: The retail trade sector contains industries such as clothing stores, shoe stores, and health and personal care stores. Companies are not limited to one sector or industry. They can reside in multiple sectors and industries. Industries, though associated with specific products , processes, and consumer markets , can evolve over time. One distinct industry (for example, barrelmaking ) may become limited to

4928-590: The " Just Say No " drug awareness campaign. Concerns about drug use prompted Congress to pass legislation such as the Comprehensive Crime Control Act of 1984 and the Anti-Drug Abuse Act of 1986 , the latter of which granted $ 1.7 billion to fight drugs and established a mandatory minimum penalties for drug offenses. Reagan also signed the Anti-Drug Abuse Act of 1988 , which further increased criminal penalties for drug use and established

5040-478: The " War on Drugs ". He promised a "planned, concerted campaign" against all drugs, in hopes of decreasing drug use, particularly among adolescents. The " crack epidemic ," which saw a large number of individuals become addicted to crack cocaine and may have played a role in numerous murders, emerged as a major area of public concern. First Lady Nancy Reagan made the War on Drugs her main cause as First Lady, founding

5152-500: The "Last Supper" at the Pentagon with contractors executives who were told that there were twice as many military suppliers as he wanted to see: $ 55 billion in military–industry mergers took place from 1992 to 1997, leaving mainly Boeing , Lockheed Martin , Northrop Grumman and Raytheon . Boeing bought McDonnell Douglas for US$ 13.3 billion in 1996. Raytheon acquired Hughes Aircraft Company for $ 9.5 billion in 1997. BAE Systems

5264-433: The 1930s. Domestically, the Reagan administration enacted a major tax cut , sought to cut non-military spending, and eliminated federal regulations. The administration's economic policies, known as " Reaganomics ", were inspired by supply-side economics . The combination of tax cuts and an increase in defense spending led to budget deficits, and the federal debt increased significantly during Reagan's tenure. Reagan signed

5376-474: The 1980s is the worst public scandal in American history...Measuring by money, [or] by the misallocation of national resources...the S&;L outrage makes Teapot Dome and Credit Mobilier seem minor episodes." The 1980s saw the highest rate of immigration to the United States since the 1910s, and the proportion of the foreign-born population reached its highest level since the 1940s. Reagan did not make immigration

5488-408: The 1981 tax bill. By 1983, the amount of federal tax had fallen for all or almost all American taxpayers, but most strongly affected the wealthy; the proportion of income paid in taxes by the richest one percent fell from 29.8 percent to 24.8 percent. Partly due to the poor economy, Reagan's legislative momentum dissipated after his first year in office, and his party lost several seats in the House in

5600-426: The 1983 Greyhound bus driver strike, and the 1985–86 Hormel strike , ended with dismissal of the strikers. With the assent of Reagan's sympathetic National Labor Relations Board appointees, many companies also won wage and benefit cutbacks from unions, especially in the manufacturing sector. During Reagan's time in office, the share of employees who were part of a labor union dropped from approximately one-fourth of

5712-691: The CSeries, renamed A220, and E-jet E2 are more capable than their predecessors, they moved closer to the lower end of the narrowbodies . In 2018, the four Western airframers combined into two within nine months as Boeing acquired 80% of Embraer's airliners for $ 3.8 billion on July 5. On April 3, 2020, Raytheon and United Technologies Corporation (except Otis Worldwide , leaving Rockwell Collins and engine maker Pratt and Whitney ) merged to form Raytheon Technologies Corporation , with combined sales of $ 79 billion in 2019. The most prominent unions between 1995 and 2020 include those of Boeing and McDonnell Douglas;

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5824-731: The Constitution. O'Connor served on the Supreme Court until 2006, and was generally considered to be a centrist conservative. In 1986, Reagan elevated Associate Justice William Rehnquist to the position of Chief Justice of the United States after Warren Burger chose to retire. Rehnquist, a member of the conservative wing of the Court, was the third sitting associate justice to be elevated to chief justice, after Edward Douglass White and Harlan F. Stone . Reagan successfully nominated Antonin Scalia to fill Rehnquist's position as an associate justice of

5936-522: The Democratic gains in the 1982 election, with House control switching to liberals within the Democratic caucus. In July 1981, the Senate voted 89–11 in favor of the tax cut bill favored by Reagan, and the House subsequently approved the bill in a 238–195 vote. The Economic Recovery Tax Act of 1981 cut the top marginal tax rate from 70% to 50%, lowered the capital gains tax from 28% to 20%, more than tripled

6048-528: The Director of the Office of Management and Budget . CIA director William J. Casey emerged as an important figure in the administration, as the CIA would figure prominently into Reagan's Cold War initiatives. Reagan downgraded the importance of the national security advisor , and six different individuals held that position during Reagan's presidency. Haig left the cabinet in 1982 after clashing with other members of

6160-816: The French, German and Spanish parts of EADS; and United Technologies with Rockwell Collins then Raytheon, but many mergers projects did not went through: Textron-Bombardier, EADS-BAE Systems, Hawker Beechcraft-Superior Aviation, GE-Honeywell, BAE Systems-Boeing (or Lockheed Martin), Dassault-Aerospatiale, Safran-Thales, BAE Systems-Rolls-Royce or Lockheed Martin–Northrop Grumman. The largest aerospace suppliers are United Technologies with $ 28.2 billion of revenue, followed by GE Aviation with $ 24.7 billion, Safran with $ 22.5 billion, Rolls-Royce Holdings with $ 16.9 billion, Honeywell Aerospace with $ 15.2 billion and Rockwell Collins including B/E Aerospace with $ 8.1 billion. Electric aircraft development could generate large changes for

6272-625: The Interior James G. Watt implemented policies designed to open up federal territories to oil drilling and surface mining . Under EPA Director Anne Gorsuch , the EPA's budget was dramatically reduced and the EPA loosely enforced environmental regulations. After the passage of the Garn–St. Germain Depository Institutions Act, savings and loans associations engaged in riskier activities, and

6384-468: The Reagan administration made simplification of the tax code the central focus of its second term domestic agenda. Working with Speaker of the House Tip O'Neill , a Democrat who also favored tax reform, Reagan overcame significant opposition from members of Congress in both parties to pass the Tax Reform Act of 1986 . The act simplified the tax code by reducing the number of tax brackets to four and slashing

6496-531: The Reagan administration, and was replaced by another former Nixon administration official, George P. Shultz . By 1982, National Security Advisor William P. Clark Jr. , Ambassador to the United Nations Jeane Kirkpatrick , and CIA Director Casey had established themselves as the major figures in the formulation of the administration's foreign policy. Shultz eventually emerged as the administration's most influential foreign policy figure, moving

6608-464: The Reagan-Bush ticket was nominated at the 1980 Republican National Convention . Meanwhile, Carter won the Democratic nomination, defeating a primary challenge by Senator Ted Kennedy . Polls taken after the party conventions showed a tied race between Reagan and Carter, while independent candidate John B. Anderson had the support of many moderates. The 1980 general campaign between Reagan and Carter

6720-474: The Social Security disability rolls. Reagan's inability to implement major cuts to Social Security solidified its status as the " third rail " of U.S. politics, and future administrations would be reluctant to propose cuts to the popular program. As Reagan was unwilling to match his tax cuts with cuts to defense spending or Social Security, rising deficits became an issue. These deficits were exacerbated by

6832-488: The Supreme Court from reviewing state and local laws mandating school prayer , but Republican senators like Lowell Weicker and Barry Goldwater blocked passage of Helms' bill. Reagan campaigned vigorously to restore organized prayer to the schools, first as a moment of prayer and later as a moment of silence. His election reflected an opposition to Engel v. Vitale , which prohibited state officials from composing an official state prayer and requiring that it be recited in

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6944-534: The Supreme Court ruling still banned a moment of silence for public schools, and said that efforts to reinstitute prayer in public schools were "an uphill battle". In 1987, he renewed his call for Congress to support voluntary prayer in schools. In 1982, Reagan signed a bill extending the Voting Rights Act for 25 years after a grass-roots lobbying and legislative campaign forced him to abandon his plan to ease that law's restrictions. He also reluctantly accepted

7056-694: The Supreme Court. Scalia became a member of the Court's conservative wing. Reagan faced greater difficulties in filling the final Supreme Court vacancy, which arose due to the retirement of Lewis F. Powell Jr. Reagan nominated Robert Bork in July 1987, but the nomination was rejected by the Senate in October 1987. Later that month, Reagan announced the nomination of Douglas H. Ginsburg , but Ginsburg withdrew from consideration in November 1987. Finally, Reagan nominated Anthony Kennedy , who won Senate confirmation in February 1988. Along with O'Connor, Kennedy served as

7168-1085: The United States ( Boeing ), Montreal and Toronto in Canada ( Bombardier , Pratt & Whitney Canada ), Toulouse and Bordeaux in France ( Airbus , Dassault , ATR ), Seville in Spain and Hamburg in Germany ( Airbus ), the North-West of England and Bristol in Britain ( Airbus and AgustaWestland ), Komsomolsk-on-Amur and Irkutsk in Russia ( Sukhoi , Beriev ), Kyiv and Kharkiv in Ukraine ( Antonov ), Nagoya in Japan ( Mitsubishi Heavy Industries Aerospace and Kawasaki Heavy Industries Aerospace ), as well as São José dos Campos in Brazil where Embraer

7280-486: The United States before January 1, 1982, and had lived in the country continuously. The bill was also contained provisions designed to enhance security measures at the Mexico–United States border . Upon signing the act at a ceremony held beside the newly refurbished Statue of Liberty , Reagan said, "The legalization provisions in this act will go far to improve the lives of a class of individuals who now must hide in

7392-612: The United States, Canada, and Mexico, in order to standardize the comparison of business activities in North America. There is also the Global Industry Classification Standard (GICS), which is used to assign companies to specific economic sectors and industry groups. There are many industry classifications in the modern economy, which can be grouped into larger categories called economic sectors . Sectors are broader than industry classifications. For example,

7504-508: The administration in the wake of the Iran–Contra affair and Republican losses in the 1986 mid-term elections . Regan was replaced by former Senate Majority Leader Howard Baker . Reagan made four successful appointments to the Supreme Court during his eight years in office. In 1981, he successfully nominated Sandra Day O'Connor to succeed Associate Justice Potter Stewart , fulfilling

7616-457: The administration towards a less confrontational policy with the Soviet Union. Baker and Treasury Secretary Regan switched positions at the beginning of Reagan's second term. Regan centralized power within his office, and he took on the responsibilities that had been held by Baker, Deaver, and Meese, the latter of whom succeeded William French Smith as attorney general in 1985. Regan frequently clashed with First Lady Nancy Reagan , and he left

7728-504: The aerospace suppliers. On 26 November 2018, United Technologies announced the completion of its Rockwell Collins acquisition, renaming systems supplier UTC Aerospace Systems as Collins Aerospace , for $ 23 billion of sales in 2017 and 70,000 employees, and $ 39.0 billion of sales in 2017 combined with engine manufacturer Pratt & Whitney . Before the 1980s/1990s, aircraft and aeroengine manufacturers were vertically integrated . Then Douglas aircraft outsourced large aerostructures and

7840-698: The aircraft production was worth US$ 180.3 billion: 61% airliners , 14% business and general aviation , 12% military aircraft , 10% military rotary wing and 3% civil rotary wing; while their MRO was worth $ 135.1 Bn or $ 315.4 Bn combined. The global aerospace industry was worth $ 838.5 billion in 2017: aircraft & engine OEMs represented 28% ($ 235 Bn), civil & military MRO & upgrades 27% ($ 226 Bn), aircraft systems & component manufacturing 26% ($ 218 Bn), satellites & space 7% ($ 59 Bn), missiles & UAVs 5% ($ 42 Bn) and other activity, including flight simulators , defense electronics, public research accounted for 7% ($ 59 Bn). The Top 10 countries with

7952-553: The amount of inherited money exempt from the estate tax , and cut the corporate tax . Reagan's success in passing a major tax bill and cutting the federal budget was hailed as the "Reagan Revolution" by some reporters; one columnist wrote that the Reagan's legislative success represented the "most formidable domestic initiative any president has driven through since the Hundred Days of Franklin Roosevelt ." Faced with concerns about

8064-525: The argument that whites had to vote Democratic to protect segregation in the South. Responding to these various trends, Reagan and other conservatives successfully presented conservative ideas as an alternative to a public that had grown disillusioned with New Deal liberalism and the Democratic Party. Reagan's charisma and speaking skills helped him frame conservatism as an optimistic, forward-looking vision for

8176-540: The broadcasting industry, eliminating the Fairness Doctrine and other restrictions. The 1982 Garn–St. Germain Depository Institutions Act deregulated savings and loan associations and allowed banks to provide adjustable-rate mortgages . Reagan also eliminated numerous government positions and dismissed numerous federal employees, including the entire staff of the Employment and Training Administration . Secretary of

8288-609: The budget cuts was the Department of Defense , which saw its budget bolstered. Reagan experienced several legislative successes in his first year in office, but his attempts to cut federal domestic spending after 1981 met increasing congressional resistance. Spending on programs like Supplemental Security Income , Medicaid, the earned income tax credit , and Aid to Families with Dependent Children all increased after 1982. The number of federal civilian employees rose during Reagan's tenure, from 2.9 million to 3.1 million. Reagan's policy of New Federalism , which sought to shift

8400-444: The cities to the suburbs led to the creation of a new group of voters less attached to New Deal economic policies and machine politics . Meanwhile, it became socially acceptable for conservative Southern whites, especially well-educated suburbanites, to vote Republican. Though the civil rights legislation of the 1960s had been a triumphal issue for liberalism and had created a new, pro-Democratic black electorate, it had also destroyed

8512-596: The continuation of affirmative action programs and the establishment of Martin Luther King Jr. Day as a federal holiday . The Equal Employment Opportunity Commission and the Justice Department both prosecuted far fewer civil rights cases per year than they had under Carter. In 1988, Reagan vetoed the Civil Rights Restoration Act , but his veto was overridden by Congress. Reagan had argued that

8624-567: The conviction or resignation of several administration officials. During Reagan's second term, he sought closer relations with Soviet leader Mikhail Gorbachev , and the two leaders signed a major arms control agreement known as the INF Treaty . Historians and political scientists generally rank Reagan in the upper tier of American presidents, and consider him to be one of the most important presidents since Franklin D. Roosevelt . Supporters of Reagan's presidency have pointed to his contributions to

8736-492: The country. Reagan, who had served as Governor of California from 1967 to 1975, narrowly lost the 1976 Republican presidential primaries to incumbent President Gerald Ford . With the defeat of Ford by Democrat Jimmy Carter in the 1976 election , Reagan immediately became the front-runner for the 1980 Republican presidential nomination. A darling of the conservative movement, Reagan faced more moderate Republicans such as George H. W. Bush , Howard Baker , and Bob Dole in

8848-506: The deficit. Reagan made passage of the Kemp–Roth bill his top domestic priority upon taking office. As Democrats controlled the House of Representatives, passage of any bill would require the support of some House Democrats in addition to the support of congressional Republicans. Reagan's victory in the 1980 presidential campaign had united Republicans around his leadership, while conservative Democrats like Phil Gramm of Texas (who later became

8960-436: The economic recovery of the 1980s, the peaceful end of the Cold War, and a broader restoration of American confidence. However, Reagan's presidency has received criticism from some Democrats for rising budget deficits and wealth inequality during and after his presidency. Due to Reagan's popularity with the public and advocacy of American conservatism , some historians have described the period during and after his presidency as

9072-548: The end of the Vietnam War . The administration also created controversy by granting aid to paramilitary forces seeking to overthrow leftist governments, particularly in war-torn Central America and Afghanistan . Specifically, the Reagan administration engaged in covert arms sales to Iran to fund Contra rebels in Nicaragua that were fighting to overthrow their nation's socialist government. The resulting Iran–Contra affair led to

9184-569: The environment. His main goal was to lessen the burden of regulation on businesses to promote more economic activity in the United States. Because of this policy, Reagan refused to renew the Clean Air Act during his administration. Reagan lessened existing regulations on pollution, cut funding to government environmental agencies, and appointed known anti-environmentalist individuals to key positions presiding over these organizations. When Reagan took office in 1981, he "attempted to reduce" money that

9296-500: The failed assassination as a critical moment in Reagan's presidency, as his newfound popularity provided critical momentum in passing his domestic agenda. Reagan used his White House staff to shape major domestic policies. His Chief of Staff made heavy use of the Office of Policy Development in supervising cabinet action on the Reagan initiatives. Reagan implemented neoliberal economic policies based on supply-side economics , advocating

9408-513: The global aerospace industry and research effort. In Russia , large aerospace companies like Oboronprom and the United Aircraft Corporation (encompassing Mikoyan , Sukhoi , Ilyushin , Tupolev , Yakovlev , and Irkut , which includes Beriev ) are among the major global players in this industry. Important locations of the civil aerospace industry worldwide include Seattle , Wichita, Kansas , Dayton, Ohio and St. Louis in

9520-431: The key White House staffers early in Reagan's presidency. Baker quickly established himself as the most powerful member of the troika and the overseer of day-to-day operations, while Meese had nominal leadership of policy development and Deaver orchestrated Reagan's public appearances. Aside from the troika, other important White House staffers included Richard Darman and David Gergen . Reagan chose Alexander Haig ,

9632-484: The key swing vote on the Supreme Court in the decades after Reagan left office. Reagan appointed a combined total of 368 judges to the United States courts of appeals and the United States district courts , more than any other president . The vast majority of his judicial appointees were conservative, and many of the appointees were affiliated with the conservative Federalist Society . Partly because Congress passed

9744-568: The largest industrial bases in 2017 were the United States with $ 408.4 billion (representing 49% of the whole), followed by France with $ 69 billion (8.2%), then China with $ 61.2 billion (7.3%), the United Kingdom with $ 48.8 billion (5.8%), Germany with $ 46.2 billion (5.5%), Russia with $ 27.1 billion (3.2%), Canada with $ 24 billion (2.9%), Japan with $ 21 billion (2.5%), Spain with $ 14 billion (1.7%) and India with $ 11 billion (1.3%). These ten countries represent $ 731 billion or 87.2% of

9856-512: The leaders of some institutions embezzled funds. In what became known as the Savings and loan crisis , a total of 747 financial institutions failed and needed to be rescued with $ 160 billion in taxpayer dollars. As an indication of this scandal's size, Martin Mayer wrote at the time, "The theft from the taxpayer by the community that fattened on the growth of the savings and loan (S&L) industry in

9968-484: The legislation infringed on states' rights and the rights of churches and business owners. No civil rights legislation for gay individuals passed during Reagan's tenure. Many in the Reagan administration, including Communications Director Pat Buchanan , were hostile to the gay community, as were many religious leaders who were important allies to the administration. Gay rights and the growing HIV/AIDS emerged as an important matter of public concern in 1985 after it

10080-565: The media to engage in a vigorous search for scandals. An unexpected new factor was the emergence of the religious right as a cohesive political force that gave strong support to conservatism. Other factors in the rise of the conservative movement were the emergence of a " culture war " as a triangular battle among conservatives, traditional liberals, and the New Left , involving such issues as individual freedom, divorce, sexual freedom, abortion, and homosexuality. A mass movement of population from

10192-466: The mounting federal debt, Reagan agreed to raise taxes, signing the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA). Many of Reagan's conservative supporters condemned TEFRA, but Reagan argued that his administration would be unable to win further budget cuts without the tax hike. Among other provisions, TEFRA doubled the federal cigarette tax and rescinded a portion of the corporate tax cuts from

10304-535: The policies of Paul Volcker , the Chair of the Federal Reserve . But Reagan himself never criticized Volcker. Volcker sought to fight inflation by pursuing a policy of "tight money" in which interest rates were set at a high level. High interest rates would restrict lending and investment, which would in turn lower inflation, raise unemployment and, at least in the short term, reduce economic growth. Unemployment reached

10416-547: The popular vote. In the concurrent congressional elections , Republicans took control of the Senate for the first time since the 1950s, while Democrats retained control of the House of Representatives . Reagan tapped James Baker , who had run Bush's 1980 campaign, as his first chief of staff . Baker, Deputy Chief of Staff Michael Deaver , and Counselor Edwin Meese formed the "troika,"

10528-409: The president's national security team pressed for more surveillance power early during Reagan's first term. Their recommendations were based upon the premise that the federal government's intelligence and counterintelligence capabilities had been weakened by presidents Carter and Ford. On December 4, 1981, Reagan signed Executive Order 12333 . This presidential directive broadened the power of

10640-428: The prevailing Keynesian view. Supply-side advocates also asserted that cutting taxes would ultimately lead to higher government revenue due to economic growth, a proposition that was challenged by many economists. Republican Congressman Jack Kemp and Republican Senator William Roth had nearly won passage of a major tax cut during Carter's presidency, but Carter had prevented passage of the bill due to concerns about

10752-499: The program, but recommended expanding the Social Security base (by including exempt federal and nonprofit employees), raising Social Security taxes, and reducing some payments. These recommendations were enacted in the Social Security Amendments of 1983 , which received bipartisan support. While Reagan avoided cuts to Social Security and Medicare for most individuals, his administration attempted to purge many people from

10864-426: The public schools. In 1981, he proposed a constitutional amendment on school prayer , which stated: "Nothing in this Constitution shall be construed to prohibit individual or group prayer in public schools or other public institutions. No person shall be required by the United States or by any state to participate in prayer." In 1984, he again raised the issue to Congress. In 1985, he expressed his disappointment that

10976-414: The race on Carter's handling of the economy. Mired with an approval rating in the low 30s, Carter also waged a negative campaign, focusing on the supposed risk of war if Reagan took office. Reagan and Carter met in one presidential debate, held just one week before election day. Reagan delivered an effective performance, asking voters, "Are you better off today than you were four years ago?" In response to

11088-553: The responsibility for most social programs to state governments, found little support in Congress. In 1981, OMB Director David Stockman won Reagan's approval to seek cuts to Social Security in 1981, but this plan was poorly-received in Congress. In 1982, Reagan established the bipartisan National Commission on Social Security Reform to make recommendations to secure the long-term integrity of Social Security. The commission rejected Social Security privatization and other major changes to

11200-514: The same industry to evaluate the attractiveness of that industry. Companies within the same industry can also have similar stock price movements due to their similarity and macroeconomic factors that affect all members of an industry. However, more complex cases, such as otherwise different processes yielding similar products, require an element of standardization and prevent any one schema from fitting all possible uses. Reagan Administration [REDACTED] Ronald Reagan 's tenure as

11312-468: The shadows, without access to many of the benefits of a free and open society. Very soon many of these men and women will be able to step into the sunlight and, ultimately, if they choose, they may become Americans." The bill was largely unsuccessful at halting illegal immigration, and the population of illegal immigrants rose from 5 million in 1986 to 11.1 million in 2013. Not long after being sworn into office, Reagan declared more militant policies in

11424-419: The total workforce to approximately one-sixth of the total workforce. Reagan sought to loosen federal regulation of economic activities, and he appointed key officials who shared this agenda. According to historian William Leuchtenburg , by 1986, the Reagan administration eliminated almost half of the federal regulations that had existed in 1981. The Federal Communications Commission aggressively deregulated

11536-481: The unemployment rate fell to about 5% in 1988. In 1987, Reagan appointed conservative economist Alan Greenspan to succeed Volcker, and Greenspan would lead the Federal Reserve until 2006. Greenspan raised interest rates in another attempt to curb inflation, setting off a stock market crash in October 1987 known as " Black Monday ", but the markets stabilized and recovered in the following weeks. In August 1981,

11648-502: The union members returned to work. Reagan's handling of the strike was strongly criticized by union leaders, but it won the approval of his conservative base of voters and others in the public. The breaking of the PATCO strike demoralized organized labor, and the number of strikes fell dramatically in the 1980s. Many of the strikes that did occur, including the Arizona copper mine strike of 1983 ,

11760-647: The use of condoms, Reagan rejected Koop's proposals in favor of abstinence-only sex education . By 1989, approximately 60,000 Americans had died of AIDS, and liberals strongly criticized Reagan's response to the HIV/AIDS crisis. On the 1980 campaign trail, Reagan spoke of the gay rights movement: My criticism is that [the gay movement] isn't just asking for civil rights; it's asking for recognition and acceptance of an alternative lifestyle which I do not believe society can condone, nor can I. Reagan's strong preferences for limited federal involvement and deregulation extended to

11872-457: The whole industry. In 2018, the new commercial aircraft value is projected for $ 270.4 billion while business aircraft will amount for $ 18 billion and civil helicopters for $ 4 billion. In September 2018, PwC ranked aerospace manufacturing attractiveness: the most attractive country was the United States , with $ 240 billion in sales in 2017, due to the sheer size of the industry (#1) and educated workforce (#1), low geopolitical risk (#4, #1

11984-498: Was bankrupt , Airbus, Boeing or Bombardier declined to take the 728JET /928JET large regional jet program as mainline and regional aircraft manufacturers were split and Airbus was digesting its ill-fated Fokker acquisition a decade earlier. On September 4, 2017, United Technologies acquired Rockwell Collins in cash and stock for $ 23 billion, $ 30 billion including Rockwell Collins' net debt, for $ 500+ million of synergies expected by year four. The Oct. 16, 2017 announcement of

12096-510: Was conducted amid a multitude of domestic concerns and the ongoing Iran hostage crisis . After winning the Republican nomination, Reagan pivoted to the center. Though he continued to champion a major tax cut, Reagan backed off of his support for free trade and the privatization of Social Security , and promised to consider arms control treaties with the Soviet Union . He instead sought to focus

12208-506: Was directed towards studying the burgeoning field of global warming and human-driven climate change. In the early 1980s, the study of the intersection between human activity and climate change was still in its infancy and scientists were far from a consensus on the topic. In 1987, the Reagan administration signed the Montreal Protocol in an effort to reduce emissions that damage the ozone layer . Citing national security concerns,

12320-408: Was disclosed that actor Rock Hudson , a personal friend of President Reagan, was receiving treatment for AIDS. As public anxiety over AIDS rose, the Supreme Court upheld a state law that criminalized homosexuality in the case of Bowers v. Hardwick . Though Surgeon General C. Everett Koop advocated for a public health campaign designed to reduce the spread of AIDS by raising awareness and promoting

12432-419: Was largely unable to enact his ambitious social policy agenda, which included a federal ban on abortions and an end to desegregation busing . Despite the lack of major social policy legislation, Reagan was able to influence social policy through regulations and the appointment of conservative Supreme Court Justices. With Reagan's support, conservative Republican Senator Jesse Helms led an effort to prevent

12544-508: Was resolutely anti-communist . Its plan of action, known as the Reagan Doctrine , sought to roll back the global influence of the Soviet Union in an attempt to end the Cold War. Under his doctrine, the Reagan administration initiated a massive buildup of the United States military; promoted new technologies such as missile defense systems; and, in 1983, undertook an invasion of Grenada , the first major overseas action by U.S. troops since

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