The
world aviation industry will continue to grow in the coming decades,
creating business opportunities for the North Texas economy, speakers
said Monday at an industry conference in Fort Worth.
In the
short term, weak economic conditions and looming budget cuts in
Washington pose problems for some parts of the industry. But the bigger
message at the Aviation and Aerospace Industry Manufacturing Summit was
that world economic growth will lead to growing sales of new airliners,
helicopters and business jets for years to come.
The conference
is being sponsored by Embry Riddle Aeronautical University and its
Center for Aviation and Aerospace Leadership, with the backing of
Hillwood and its AllianceTexas development.
Global growth
presents potential sales for companies that manufacture components and
provide services to companies like Boeing and Airbus, as well as
operators of commercial helicopters and private jets.
Examples
abound. NetJets, the leading provider of fractional jet ownership
services, has announced plans to spend $17.5 billion over the next
decade to buy hundreds of new aircraft, said Michael Goode, senior vice
president of NetJets, which is owned by Warren Buffett's Berkshire
Hathaway.
The continued consolidation of commercial airlines,
reduced service and declining quality will drive more business people to
use private aircraft, Goode said.
One beneficiary of NetJets
spending will be Canadian manufacturer Bombardier, which has operations
in Dallas-Fort Worth and is contracting with Triumph Aerostructures in
Dallas to build wings for its newest jets.
Similarly, American
Eurocopter's chief executive, Mark Paganini, said helicopter sales in
the U.S. and worldwide should grow substantially over the next decade
due to new technology, economic growth and as Vietnam-era copters need
to be replaced.
"We are optimistic the business will continue to
grow. Our main challenge today is to ramp up our capacity to produce,"
said Paganini, who leads the Grand Prairie-based company. Finding new,
talented engineers, Paganini said, "is the most challenging job we
have."
And despite the turmoil surrounding the airline industry,
Boeing predicts air travel will roughly double in the next 20 years --
as it has over the last 20, said Jim Bowden, Boeing's regional director
of market forecasting.
Boeing projects airlines will buy 34,000
airplanes worth $4.5 trillion over that time, straining the capacity of
manufacturers and their suppliers, a number of whom are based in
Dallas-Fort Worth.
Ross Perot, chief executive of
Hillwood/Alliance, said there is ample reason to think the aviation and
aerospace industries will grow in North Texas.
"I think our best years are ahead of us at Alliance," Perot said of the massive development centered on Alliance Airport.
Perot
said the challenge facing the Texas aviation industry and state and
local governments is how to educate and train a high quality workforce
to augment and succeed those now in the field.
The one dark cloud
immediately facing defense companies like Lockheed Martin, Bell
Helicopter and others in the region is the threat of billions of dollars
in across-the-board defense spending cuts in Congress doesn't act by
the first of the year to stop budget sequestration and mandatory cuts.
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