Manufacturing for Aerospace and Aviation
Manufacturing for aerospace and aviation relates to the fabrication, production and assembly of parts, components, equipment and vehicles for air and space travel in both the commercial and defense industries. Vehicles include airplanes, helicopters, electric vertical take-off and landing (eVTOL) and high-speed vertical takeoff and landing (HSVTOL) aircraft, shuttles, and unmanned aerial vehicles (UAVs) or drones.
Vermont is home to a thriving, combined $2 billion aerospace manufacturing and civil aviation industry. According to the U.S. Economic Impact of Civil Aviation by State done in November 2020 by the Federal Aviation Administration, the economic impact of civil aviation alone for the state of Vermont includes: $1.195 billion in economic output, $304 million in earnings, $644 million in value added, and 8,917 jobs. Civil aviation, furthermore, represents 2.0% of Vermont’s gross domestic product (GDP).
Vermont is also home to industry leaders, such as Beta Technologies, Collins Aerospace, A Raytheon Technologies Company, GE Aerospace, G.S. Precision, and an established, world-class supplier base of small and medium-sized enterprises (SMEs) with capabilities in the areas of:
- Aerospace design & engineering, aircraft structures and sub-assemblies, aircraft airframes and engines, advanced ceramics, avionics, composites, electronics and electrical systems, fixtures and gauges, fuel measurement, landing gears, precision machining, maintenance, repair & overhaul (MRO), sensors & sensing systems, turbomachinery, and wire and cable assembly.
Additionally, the Boeing Company has a defined supply chain in Vermont with 23 suppliers and vendors representing an $88.1 million spend and supporting an estimated 2,800 direct and indirect jobs.
Lastly, the Vermont Chamber's legislative win in making permanent the 6% aviation sales tax exemption on the maintenance, repair, and overhaul (MRO) of parts, equipment, and machinery for both commercial (carriage of persons) and private aircraft is an important economic development recruitment tool and business retention incentive. According to Aviation Week's 2023 Commercial Aviation Fleet & MRO Forecast, "North America is projected to account for 20% of the worldwide engine MRO market over the next decade. This is based on the North American engine fleet increasing to more than 22,200 in 2032 from just 19,300 active engines in 2023." According to Verified Market Research, " aviation MRO market size was valued at $79.2 billion in 2022 and is projected to reach $133.69 billion by 2030."
VPR Radio Interview: Flying Under The Radar: Vermont’s Aerospace Industry
