Industry Insight Report: Aircraft Engine & Parts Mfrs Q1-2025
Industry Insight Report: Aircraft Engine & Parts Mfrs Q1-2025
Decline in Industry Orders, Shipments
Nondefense aircraft and parts new orders and shipments were down 58.3% and 9.8% in November, respectively, year over year, per the Census Bureau. Nondefense aircraft and parts inventories rose 6.3% in November year over year. Quarterly sales for aerospace products and parts companies climbed in Q3 2024, up 2.6% from Q3 2023 and down 0.8% from the previous quarter, according to the Census Bureau. Producer prices for aircraft engine and engine parts manufacturers rose 3.2% in November 2024 compared to a year ago, according to the Bureau of Labor Statistics (BLS). Employment for the industry grew 3.8% in October 2024 year over year while wages at aerospace products and parts manufacturers increased 5.6% during the same period.
News Spotlight:
First-class seats are getting so fancy they’re holding up new airplanes CNBC: Full Article »
Industry Forecast
Sales for the US aircraft engine and parts manufacturers industry are forecast to grow at a 5.6% compounded annual rate from 2025 to 2029, faster than the growth of the overall economy.
By the Numbers
Employment by aircraft engine and parts manufacturers increases Overall employment by aircraft engine and parts manufacturers changed 2.8% in January compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at aerospace products and parts manufacturers rise Average wages for nonsupervisory employees at aerospace products and parts manufacturers were $48.51 per hour in January, a 5.9% change compared to a year ago.
Lion Business Advisors quarterly industry insights data provided by VerticalIQ industry intelligence platform
Industry Insight Report: Aircraft Engine & Parts Mfrs Q1-2025
Decline in Industry Orders, Shipments
Nondefense aircraft and parts new orders and shipments were down 58.3% and 9.8% in November, respectively, year over year, per the Census Bureau. Nondefense aircraft and parts inventories rose 6.3% in November year over year. Quarterly sales for aerospace products and parts companies climbed in Q3 2024, up 2.6% from Q3 2023 and down 0.8% from the previous quarter, according to the Census Bureau. Producer prices for aircraft engine and engine parts manufacturers rose 3.2% in November 2024 compared to a year ago, according to the Bureau of Labor Statistics (BLS). Employment for the industry grew 3.8% in October 2024 year over year while wages at aerospace products and parts manufacturers increased 5.6% during the same period.
News Spotlight:
First-class seats are getting so fancy they’re holding up new airplanes
CNBC: Full Article »
Industry Forecast
Sales for the US aircraft engine and parts manufacturers industry are forecast to grow at a 5.6% compounded annual rate from 2025 to 2029, faster than the growth of the overall economy.
By the Numbers
Employment by aircraft engine and parts manufacturers increases
Overall employment by aircraft engine and parts manufacturers changed 2.8% in January compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at aerospace products and parts manufacturers rise
Average wages for nonsupervisory employees at aerospace products and parts manufacturers were $48.51 per hour in January, a 5.9% change compared to a year ago.
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