The U.S. general aviation industry contributes $219 billion in annual economic impact and produces 1.1 million jobs, according to a new study GAMA released today during its annual “State of the Industry” press conference in Washington, D.C. The study—jointly commissioned by the major business and general aviation associations and conducted by PricewaterhouseCoopers—updates nine-year-old data that previously found an annual economic contribution of $150 billion and 1.2 million jobs.
“That’s a hefty increase [of economic contribution],” said GAMA president and CEO Pete Bunce, especially considering the numbers reflect an industry emerging from a prolonged recession. The original data, from 2006, reflected an industry approaching its peak.
“The findings show industry resiliency and the quality of jobs,” Bunce said. While the number of jobs is down from 2006, the increase in economic impact shows a highly paid, skilled work force, he said. This is true whether “the person is on the factory floor or out flying the airplane or dispatching them,” he added. The associations commissioned the study to ensure they are armed with fresh data to take to Capitol Hill as they head into a FAA reauthorization year, he said. The study follows Department of Commerce standards, looking at economic impact, contribution to U.S. GDP, employment and labor income.