ASSESSMENT OF THE FINANCIAL CONDITION OF AEROSPACE ENTERPRISES

The aerospace industry is an integral part of the modern world economy, a key factor of public policy. It plays a crucial role in ensuring the competitiveness, sustainable development and security of the state. The presence of a developed aerospace industry in the state is a testament to the breakthrough of scientific and technological innovations, purposeful effective state policy, high management culture. In recent years, Ukraine's aerospace industry has been brought to a super-critical financial state. The purpose of the publication is to assess the financial condition of aerospace enterprises, identify problems with the financial component of economic activity and provide practical recommendations to improve it. In the first stage, the indicators that comprehensively characterize the financial condition of the aerospace industry are calculated: indicators of property situation; liquidity indicators; financial independence indicators; business performance indicators; profitability. The second stage identifies integrated indicators of property status, liquidity, financial independence, business activity and profitability. The second stage identifies integrated indicators of property status, liquidity, financial independence, business activity and profitability In the third stage, the weighting ratios of integrated financial indicators of enterprises are established. In the fourth stage, the integrated indicators of the financial condition of enterprises are calculated. In the fifth stage, the actual value of the integrated measure of the financial condition of enterprises with the normative one is compared and its type (financial stable or not) is defined. Throughout 2016–2019 the financial condition of the aerospace industry has deteriorated considerably. This was due to the deterioration of the property situation of enterprises, their liquidity, financial independence, business activity and profitability. The reasons for the deterioration of the financial condition of the aerospace industry are: the rupture of scientific and production cooperation and military-technical cooperation; Lack of a government order and loss of human and production capacity; in the cost structure, a significant share is the servicing of loans taken for outstanding projects; the lack of systemicity and imbalance of revenues from international contracts. To improve the financial condition of enterprises in the aerospace industry in Ukraine, a new management model should be introduced with a body of knowledge, experience and technologies that are the basis of competitive advantages. It should be aimed at the development and implementation of Ukrainian strategic technologies, the implementation of applied aerospace projects with the involvement of broad domestic and international cooperation and the integration of scientific, technological, industrial and financial cooperation resources to solve national and international tasks.