Aerospace giant expects industry to boom

02.14.2012


Aerospace giant expects industry to boom
Aerospace giant expects industry to boom

A major aerospace company recently released a long-term projection for the global aviation industry, predicting substantial growth. This expansion in the sector could lead to increased staffing in the aviation industry.

The prediction covers the years between 2011 and 2030, and estimates provided by Randy Tinseth, vice president of marketing for Boeing's commercial airplane division, indicate that the total demand for aircraft coming from global airlines will be 33,500 planes worth more than $4 trillion, according to MarketWatch.

Tinseth also stated that about 60 percent of these airplanes will denote expanding activity in the sector, while 40 percent of the craft will come from replacements, the media outlet reports. He also stated that Asia Pacific carriers will be responsible for a substantial portion of the items demanded, requiring 11,500 new planes worth $1.5 trillion. India and China have some of the fastest-growing aviation industries in the world, according to MSN Money.

Boeing is responding to this projected growth by ramping up its manufacturing of airplanes, according to MarketWatch. The aerospace giant is considering creating a larger version of its 787 Dreamliner, which would be capable of carrying 40 more passengers.

Evidence of improving activity in the aerospace sector can be observed in Washington, where an airplane maintenance firm recently announced that it is opening another location that will be used to repair craft, according to The Seattle Times. The new location will create 100 new positions, and an equal amount within two years.

Chief executive Matt Yerbic told the media outlet that his firm looked at possible locations nationwide, but decided to locate in Snohomish County because of the area's aerospace resources, the media outlet reports. Since the area has hundreds of aerospace firms within a small radius, he can get parts he cannot fit using his own machinery, and fast.

The skills that the employee base had to offer motivated the firm to begin staffing, the media outlet reports.

"There are cheaper places to operate, with lower-cost facilities and lower-cost labor," Yerbic told the media outlet. "But what we found was, for the complexity and technical requirements we have, we have a group of employees here who are highly dedicated and skilled in doing this work."

Fortunately, the county's skilled labor force has motivated at least one firm to begin staffing aerospace positions in the area.