How the Global Aerospace Boom Is Creating Exciting New Opportunities for Students

The idea of working in the aerospace industry may be the stuff of a child’s dreams, but today, it is becoming increasingly possible thanks to the impressive growth of the global aerospace industry. This market is currently valued at approximately USD 401 billion, with projections to reach USD 726 billion by 2033, growing at an impressive CAGR of approximately 7.3%. Just a few sectors that will benefit from the heightened demand are the commercial aircraft, aerospace support, and narrow-body aircraft manufacture. Just a few of the many parts of the world in search of fresh talent are the U.S., Europe, and Asia.

India Is Making Major Strides

India is one example of a country that is aiming to make its presence felt in the industry. Earlier this year, it launched the world’s largest facility for producing aerospace-grade titanium. Other notable players in Asia include South Korea, which established the Korea Aerospace Administration (KASA) to land on the moon in 2032, complete a mission to Mars by 2045, and establish a lunar base development by 2050. Japan, meanwhile, is excelling with its satellite launches. Its H-2A rocket recently completed its final flight, launching a cutting-edge climate-monitoring satellite. Then there is Singapore, which has built the Seletar Aerospace Park—a place where component manufacturing, maintenance, repair, and overhaul (MRO), and aviation training take place. This spells exciting news for students interested in aircraft manufacture, training simulation, scheduling system manufacture, safety analysis, and aerospace business strategy. Aerospace is becoming a new oasis for business majors, data scientists, operations researchers, and other graduates with degrees centered on strategy, logistics, and global market analysis.

Engineers Are In Big Demand

One of the most essential skills in the aerospace industry is knowing how to manufacture and employ metals such as aluminum and titanium. Aluminum makes up most of the airframe of planes, including their skin, fuselage, wings, and tail. This metal is lightweight and corrosion-resistant. Titanium is hailed for its sturdiness, light weight, corrosion-resistance, and ability to withstand heat. As such, it is favored for jet engine parts, especially those that are exposed to soaring temperatures. Titanium is also employed for landing gear components, some high-stress airframe sections, wing structures, door frames, attachment points, and heat shields. Ideal matches for jobs involving aerospace and airplane manufacture include materials science and engineering (MSE), metallurgical engineering, mechanical engineering, aerospace engineering, chemical engineering, industrial engineering, and specialized graduate programs such as Master’s or PhD programs in materials or metallurgy.

Exploring Space

The space exploration industry is also staying busy, with NASA’s Artemis program currently preparing for a return to the moon and the European Space Agency planning a host of international missions. Private enterprises, including SpaceX and Rocket Lab, meanwhile, are in the midst of a fierce competition to build the infrastructure of a commercialized space economy. SpaceX’s Starship program aims for full reusability and interplanetary travel. Reusing ships can drastically reduce cost and increase the frequency of flights. SpaceX is also working on the deployment of massive satellite constellations such as Starlink, which is designed to provide broadband internet worldwide. It is also busy delivering satellites, cargo, and astronauts to the International Space Station (ISS), and has plans to offer private, commercial space transportation. Rocket Lab, meanwhile, is busy working on frequent, more affordable launches for small satellites with its Electron rocket. It is also developing in-orbit satellite manufacturing and propulsion services, aimed at making space more accessible for new enterprises.

Interesting Areas to Explore

You don’t have to have a degree in engineering to shine in this burgeoning sector. If you’re currently completing a degree, consider exploring areas such as international project management, which involves managing suppliers, regulators, and partners, sometimes from across the globe. Another interesting area is that of aerospace business strategy, which is ideal for those with a head for economics or consulting. As aerospace markets globalize, it will be useful to know how to anticipate changes in demand, overcome supply chain difficulties, and discover and take advantage of emerging technologies.

It’s an exciting time for the aerospace industry across the globe. Countries such as India, South Korea, and Singapore are all working hard to rival the work being achieved in the West. While the sector mainly seeks students with studies in engineering, those in business and project management are also in demand. If you’ve always dreamed of flight, and you wish to make it accessible to more people, now is the perfect time to start.