Industry Insight Report: Aircraft Engine & Parts Mfrs Q2-2024
Industry Insight Report: Aircraft Engine & Parts Mfrs Q2-2024
Higher Orders, Inventories
New product orders for nondefense aircraft and parts were up 2.8% in March 2024 compared to a year ago and were up 106.4% from the previous month, according to the Census Bureau. Product inventories of nondefense aircraft and parts were 12.6% higher in March 2024, compared to a year ago, and 1.4% higher than the previous month. Additionally, producer prices for aircraft engine and engine parts manufacturers rose 4.4% in March 2024 compared to a year ago.
News Spotlight:
Beyond the Human Eye: AI Improves Inspection in Manufacturing Assembly Magazine: Full Article »
Industry Forecast
Sales for the US aircraft engine and parts manufacturers industry are forecast to grow at a 6.11% compounded annual rate from 2024 to 2028, 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 6.1% in December 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 $43.73 per hour in December, a 1.9% 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 Q2-2024
Higher Orders, Inventories
New product orders for nondefense aircraft and parts were up 2.8% in March 2024 compared to a year ago and were up 106.4% from the previous month, according to the Census Bureau. Product inventories of nondefense aircraft and parts were 12.6% higher in March 2024, compared to a year ago, and 1.4% higher than the previous month. Additionally, producer prices for aircraft engine and engine parts manufacturers rose 4.4% in March 2024 compared to a year ago.
News Spotlight:
Beyond the Human Eye: AI Improves Inspection in Manufacturing
Assembly Magazine: Full Article »
Industry Forecast
Sales for the US aircraft engine and parts manufacturers industry are forecast to grow at a 6.11% compounded annual rate from 2024 to 2028, 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 6.1% in December 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 $43.73 per hour in December, a 1.9% change compared to a year ago.
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