Published: 08/01/2017
Exploring the Future of Aerospace in Greater Phoenix
The aerospace and defense industry is adapting and evolving in the face of significant budget cuts and reduced military spending. New opportunities have arisen in diverse sectors and overseas markets have grown. This report explores the current trends affecting the industry post-sequestration as well as future technology developments that can drive growth and continue to diversify the nature of the aerospace industry in Greater Phoenix.
Key Findings
Adapting to Uncertainty
Arizona was hit hard by sequestration, but firms are adapting to federal funding uncertainty. Decreased military spending has encouraged cost savings and new technology development, while the unpredictability of federal funding has created challenges.
Growth Fueled by Spending
Exports are growing due to increased international military spending and new emerging commercial markets overseas.
Transforming the Industry
Emerging technologies are transforming the industry through product development and process improvement. Space exploration, additive manufacturing and sensors represent the next phase of technology development, and Greater Phoenix companies are competing in these sectors.
Effects of Automation
Automation in manufacturing presents new workforce opportunities and challenges. Manufacturing job growth has stalled, the industry’s aging workforce lacks entry level workers, and increased automation will require new and different skills.
19.9K
19,980 people are employed by Greater Phoenix's aerospace & defense industry
127
There are 127 aerospace & defense companies operating in Greater Phoenix
$98K
The average annual aerospace & defense wage in Greater Phoenix
#1
AZ ranked #1 in Aerospace Manufacturing Attractiveness by PricewaterhouseCoopers
Learn more about our in-depth report on the future of the aerospace and defense industry in Greater Phoenix.
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