The recent growth in the aerospace industry as a whole is attributed to a number of complementary factors. With Boeing leading the charge in innovation and several leading aerospace manufacturers finding new growth opportunities on their home turf, demand is expected to remain high for the foreseeable future. As well, the boom is both domestic and international - and, at times, interstellar. This article takes a big picture look at the aerospace industry to highlight reasons for the increased activity.
Oklahoma, Utah and Connecticut are three states with particular interests in the overall health and wellbeing of the aerospace industry. This is because each is its own epicenter of aerospace manufacturing and distribution, with a population that relies in part on jobs in this field.
Oklahoma: Oklahoma's part in the continuing growth of the aerospace manufacturing industry can be traced directly back to Boeing. The aerospace giant is in the process of expanding its already robust Oklahoma City campus, adding professionals in various fields and relocating several key company executives to the newly expanded offices. Boeing's activities in Oklahoma City range from commercial aircraft to military uses, early warning systems and tanker maintenance.
Utah: A recent report ranks Utah as 4th nationwide as a state friendly to the aerospace manufacturing industry. As a result, Utah is receiving robust support from leading aerospace manufacturers, including Boeing, Orbital ATK, Harris, Hexcel and Hill Air Force Base. Not only is the existing aerospace industry doing well, but Utah is setting itself up to serve as a hub for identifying, recruiting and training new and upcoming aerospace talent to bring into the workforce. This marks Utah as a state that factors the aerospace industry into its long-term plan for statewide stability and security.
Connecticut: Hartford currently ranks 30th in nationwide exports. An estimated $10.5 billion of those exports can be traced directly back to aerospace manufacturing, making Connecticut a key center for providing equipment, machinery and parts. This represents a 3.1 percent increase over the previous year. Connecticut's biggest customers include Canada, Germany, France, the United Arab Emirates and China.
In addition to the recognized roles states like Connecticut, Utah and Oklahoma play in facilitating the growth of the aerospace manufacturing industry, additional innovations promise to keep the aerospace industry as a whole busy for years - even decades - to come.
Unmanned vehicles: Often called “drones,” unmanned vehicles are playing an increasingly important role not just in military uses but also in commercial farming, space exploration and even package delivery. In the last year alone, unmanned vehicles have been credited with irrigating drought-beleaguered crops, locating lost livestock and gathering data to improve future yields. As well, drones have become a critical part of NASA's deep space missions to Pluto and much further beyond. And the Association for Unmanned Vehicles International estimates at least 100,000 drone-friendly new jobs will be created in the next decade.
Commercial aircraft: Boeing is leading the way for new commercial aircraft designs to increase passenger comfort and safety. These new aircraft not only promise to improve the customer experience but also to increase revenue for the constantly struggling airline industry (here, by adding new seats and reducing fuel use by improving efficiency). As well, along with the new designs come new opportunities for upselling “extras” while reducing seat prices.
Outsourcing: New opportunities for contractors are arising as the demand for commercial aircraft products continues to increase. Aerospace contractors can not only add innovation and flexibility to the supply chain, but offer the chance to lower overhead in industries that rely heavily on aerospace products and services. Perhaps most importantly, however, outsourcing creates a more competitive atmosphere that stabilizes manufacturing costs enough to focus on improving the overall flying experience for customers worldwide.
With all of these promising additions, changes and innovations - some already here and some on the very near horizon - the industry as a whole is enjoying a uniquely privileged position within the rebounding national economy.
