|AIAA Collaborates on Aviation Week's 16th Annual Workforce and Young Professional/Student Study
Study Finds 63% of A&D Young Professionals Plan to Stay in Aerospace Workforce
August 23, 2012 – Reston, Va. – The American Institute of Aeronautics and Astronautics (AIAA) collaborated with other leading aerospace groups to support the development of Aviation Week’s authoritative 16th Annual Workforce and Young Professional/Student Study, released August 20, 2012.
The study indicates that 63% of young professionals in aerospace and defense related industries plan to stay in the sector through retirement, despite recent market disruption. The study also found that the aerospace and defense sector plans to “fill some 28,000 jobs next year, and the forecast is for continued hiring as the industry bring into balance retirements, emerging talent needs, growth in the commercial sector and potential declines in defense and space.”
Among other findings in the study:
- The aerospace and defense sectors continue to outpace other sectors in pay increases, paying its workers 2.7% more than other parts of the technology sector.
- Young professionals continue to be burdened by student loans, with 40% holding loans, and 30% holding loans of over $40,000, and that this debt influences the employment and relocation decisions made by young professionals.
- The American south and southeast have seen the greatest number of new aerospace facilities being built in the United States, with new facilities opening in Alabama, Florida, Mississippi, North Carolina, South Carolina and Virginia during 2012.
The study also looked at employment conditions at major aerospace firms, and at the quality of the aerospace programs in American universities and colleges. To see the complete 16th Annual Workforce and Young Professional/Student Study, along with summary data, please visit www.aviationweek.com/workforce.
In addition to AIAA’s involvement, Aviation Week’s 16th Annual Workforce and Young Professional/Student Study was produced in collaboration with the Aerospace Industries Association, NASA, the National Defense Industrial Association, and many leading aerospace industry partners.
“Aviation Week,” part of The McGraw-Hill Companies, is the largest multimedia information and services provider to the global aviation, aerospace and defense industries, and includes www.AviationWeek.com, “Aviation Week & Space Technology,” “Defense Technology International,” “Business & Commercial Aviation,” “Overhaul & Maintenance, ShowNews,” “Aviation Daily,” “Aerospace Daily & Defense Report,” “The Weekly of Business Aviation,” Aviation Week Intelligence Network, and MRO Links. The group also produces major events around the world.