Boeing’s revenue decline of 8.25% in 2008 has pulled down US top 20 aerospace and defence industry sales revenue growth, according to Deloitte’s 2008 US top 20 Aerospace & Defense company performance report.

Although the actual sales revenue for the top 20 jumped to $324.2bn in 2008 from $308.3bn in 2007 at an increase of 5.2%, the growth rate could have been higher had it not been for Boeing’s performance.

Deloitte calculated that excluding Boeing, the industry sales revenue would have increased by 8.8% from $241.9bn in 2007 to $263.3bn in 2008.

The revenue decline for Boeing resulted from lower revenues at Boeing Commercial Airplanes (BCA) due to fewer deliveries following a work stoppage, the report said.

Boeing delivered 104 fewer airplanes due to the International Association of Machinists and Aerospace Workers strike.

The company ranked first on the top 20 list by Deloitte, as it saw its revenue go down from $66.4bn in 2007 to $60.9bn in 2008.