Daily Management Review

South Carolina, US Aerospace Industry Continues To Grow More Than The Average


11/29/2018




South Carolina, US Aerospace Industry Continues To Grow More Than The Average
A new study on the aerospace sector in South Carolina, US, claims that over the last few years, there has been a steady growth in the industry which has spurred expansion projects being taken on by many smaller and midsize aerospace firms and suppliers so that they are able to keep with growing demands from aircraft manufacturers.
 
“The aerospace cluster is continuing to expand and thrive in South Carolina. ... We’ve seen a steady increase in the size and scope of the industry,” said Joseph Von Nessen, research economist at the University of South Carolina’s Darla  Moore School of Business. He is the writer of the study that is titled ‘The Economic Impact of Aerospace in South Carolina.’
 
The floor area was doubled and in a newly created production facility in 2016 by Boeing supplier Safran and Electrical and Power Charleston to be able to accommodate more orders for Boeing 787 which includes the complete assembly of the landing system of the Dreamliner.
 
14 new employees have been hired of the last one year by Composite Resources, to augment its existing strength of 50 and it plans to make more recruitment as new contracts come under its fold.
 
And the addition of a third shift is being made by a third tier Boeing supplier Solar Atmospheres Inc. which would enable 24 hour production starting next year. The business of this company is to offer vacuum thermal processing services which is used by large machines to heat up metal structures so that they can be given a particular shape to form aerospace components. Such parts are then supplied to other suppliers of Boeing and ultimately to North Charleston based Dreamliner factory of the aircraft maker.
 
Solar Atmospheres’ Southeast president- Steve Prout, informed that company would continue to recruit more people as it extends its five day a week work schedule to seven. “This has been a response to growth and capacity constraints,” Prout said.
 
According to Von Nessen’s study, the local economy in South Carolina has been boosted for years now because of the creation of more jobs by increased demand in the aerospace sector. The study has been published annually since 2014.
 
Aerospace “has been a principal driver for South Carolina’s economic growth throughout the expansion period and a major reason the state has been doing well,” Von Nessen said.
 
The study claims that in terms of employment growth, aerospace has turned out to be the most important contributor.
 
Between 2014 and 2017, there was 75 per cent increase in the employment in aerospace firms that employed over 500 people according to data in the study. On the other hand companies that have a staff strength of between 101 to 500 had employed of 7.4 per cent more during the period and still; smaller firms employed 12. Per cent more people during the aforesaid period.
 
There was an annual average growth of 2.1 per cent in employment between 2010 and 2017, for all companies in South Carolina. But the rate of growth is more than six times that rate, at 13 per cent among the aerospace companies in the state durring the same time period.
 
“Aerospace is a superstar in our state,” Von Nessen said. “When you look at employment growth in the state as a whole and what is happening in the aerospace industry, there is a very dramatic difference.”
 
(Source:www.charltonbusiness.com)






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