The Aircraft Electronics Association released the results from its 2010 Rate & Labor Survey this week to participating AEA member companies. The complete survey will be available in October online at AEA.net. In comparing this year’s annual survey results with the 2009 Rate & Labor Survey, the AEA discovered a promising business outlook for the remainder of 2010 and into 2011.
Of those repair stations responding to this year’s survey, 50% said they expect their business to increase this year, and 42% expect their business to at least remain the same. Only 8% expect a decrease in business, compared to 15% of respondents expecting a decrease in operations last year.
With the anticipated growth, repair stations are turning to the rotorcraft market for alternative revenue streams. As revealed by AEA members, this segment of the market is rising; members performing work on rotorcraft is up 11% this year.
The 2010 Rate & Labor survey also indicates future hiring will increase dramatically. The number of technicians needed across all disciplines is up nearly 40% compared to 2009.
While the majority of repair stations still believe economic conditions are negatively impacting their business, the numbers have subsided since 2009.
“All in all, the results from this year’s Rate & Labor Survey are a welcome sign that business is improving, repair stations need additional avionics technicians, and the outlook for growth is trending upward,” said Paula Derks, president of the AEA.
The annual survey examines and compares shop and labor rates by national and international regions. It also shows employee benefit/compensation package information, a profile of technician experience, regional employment demand, and a new business outlook perspective.
For more information: 816-347-8400 or AEA.net.