After a relatively flat 2016, the aerospace and defense sector looks to make positive strides in 2017. According to Deloitte, one of the nation’s leading financial advisory companies, the aerospace and defense sector is set to experience a 2% growth over the course of the year.
This is good news for aerospace manufacturers, who will likely see a surge in work thanks to the growth of the sector. The recovery, according to Deloitte, will be due to an increase in aircraft production levels, which is being driven by a “strong demand for next-generation aircraft and growing passenger traffic.”
Despite the public relations challenges occasionally faced by airlines, the overall sector continues to grow. And with the current administration focused on building manufacturing within the United States, this means more jobs and more work available across the industry, including and especially in aerospace manufacturing.
Additionally, as Deloitte points out in its global outlook summary, countries like China and Russia have boosted their own aerospace manufacturing efforts in an attempt to supply domestic airlines with planes. Fortunately for manufacturing in the United States, such attempts have largely been unsuccessful, meaning countries like China are reliant on foreign countries, such as the United States, for reliable, economic aircraft options.
In terms of what this means for our clients, as growth makes its way back into the sector, that means a higher demand for high quality aerospace manufactured products. Higher demand means more work, which translates into higher confidence in the industry.
This allows our clients to confidently purchase and upgrade cutting tools that are used in these manufacturing efforts, knowing that the sector will continue to rise and produce new project opportunities for manufacturers. Additionally, as demand for higher quality products grows with the aerospace industry progressing to lower-weight materials and improved technology, there’s no better time to upgrade manufacturing equipment than now.
As mentioned above, the outlook for manufacturing looks good not only for 2017, but for the next few years as the current administration drives more manufacturing within the States. We look forward to the coming years and hope to see a consistent growth within the aerospace industry, especially in terms of manufacturing.
For more information about how current industry trends are affecting manufacturing, or to discuss how Steel Sales can provide the best aerospace manufacturing cutting tools and other products for your business, contact our team today. We are available at 501-375-3338 – ask for Mike or David.
