High-end business jets are a strong market. General Dynamics' first-quarter results, announced last month, show the continued evolution of the company from an almost pure-play defense prime to a company deriving nearly half (45%) of its earnings from Gulfstream Aerospace and Jet Aviation, two units that focus on manufacturing, completing, and supporting high-end ($26 million-plus) jets. As deliveries of Gulfstream's ultra-high-end $70 million G650 continue to ramp up, and as the defense budget continues to come under pressure, Gulfstream's percentage of GD profits will likely grow.
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