OKLAHOMA (OBV) – Oklahoma’s aerospace and defense industry flew high in 2024 with $150 million in new capital investment.
Aerospace and defense is Oklahoma’s second largest industry and its fastest growing industry. That rapid rise continued last year with 25 new or expanding businesses in the state, which are expected to generate $146.6 million in capital investment.
The new aerospace and defense businesses and expansions created 1,007 new jobs, according to officials with the Oklahoma Department of Commerce and Aerospace Commerce Economic Services (ACES).
“The number of aerospace and defense companies we’ve seen invest in Oklahoma is incredible,” said Evan Brown, Executive Director of Oklahoma Office of Economic Development, Growth and Expansion (OkEDGE). “It’s the fastest-growing industry because of our state’s business-friendly policies and dedication to diversifying our economy. Oklahoma is quickly becoming a national leader in defense manufacturing and aerospace technologies.”
ACES Annual Report for 2024 shows that 60 percent of the new or expanded aerospace and defense businesses were in metro areas, and 40 percent were in rural areas.
The Oklahoma Department of Commerce closed 2024 with 46 open aerospace and defense projects that have the potential for $2.21 billion in capital investment.
The state has invested $9.4 billion in ACES since the program’s creation in 2018. ACES has generated $2 billion in new capital investment and created 8,915 new jobs so far.
Oklahoma aerospace and defense industry highlights from 2024 include the following:
- Pratt & Whitney, an aerospace and defense compnay, expanding its Oklahoma City site;
- Agile Space Industries, a top provider in aerospace propulsion and testing solutions, developing the Tulsa Space Test Center near the Tulsa International Airport; and
- AAR CORP., a top provider of aviation services to commercial and government operators, expanding its OKC maintenance, repair and overhaul facility.
Pratt & Whitney’s site expansion includes a new $255-million facility that is 845,000 square feet in size. The site has more than 500 full-time employees as well as 500 more contract and partner employees. The new investment is anticipated to create another 100 full-time jobs over the next five years.
“Oklahoma City is the heart of our global sustainment network for Pratt & Whitney’s Military Engines business and plays a critical role on every single one of our programs,” said Jill Albertelli, president of Military Engines at Pratt & Whitney. “This new facility will serve as a hub for all of our military engine programs and allow us to better support our customers and their missions.”
Agile’s state-of-the-art space test center is expected to establish Tulsa as a prominent location for space engine testing and support the nation’s critical need for advanced in-space propulsion testing infrastructure. It is designed to be a world-class testing hub that will provide advanced in-space rocket engine testing to NASA, commercial space companies and the U.S. Department of Defense (DOD).
“Space has become essential to the global economy, valued at over $600 billion annually and projected to exceed $1 trillion by 2040,” noted Jim Bridenstine, former NASA Administrator and Managing Partner of The Artemis Group. “From banking to national security, America’s infrastructure depends on space. The Tulsa Space Test Center, supported by Tulsa’s robust aerospace workforce and strategic infrastructure assets, will attract further investment and growth to the region, creating high-paying jobs, boosting the local economy, and establishing a Tulsa Space Park that will drive future space innovation.”
AAR’s new airframe facility will give the company more than 80,000 square feet of hangar and warehouse space and accommodate all 737 variants, including the 737-10, as well as a recently expanded maintenance commitment from Alaska Airlines
The facility will be focused on airframe maintenance, repair and overhaul. It is scheduled to be operational next January.
“Today’s groundbreaking has been made possible thanks to collaborative efforts across AAR and Alaska Airlines, partnerships with Oklahoma City Airport Trust, and state and local representatives who are passionate about expanding aviation in Oklahoma,” said John Holmes, AAR’s chairman, president & CEO.
ACES’ full 2024 report is shared below:
