The Impact of Aviation on the U. S. Economy

Holly KunzRebecca VredenburghMethodist UniversityThe Impact of Aviation on the U. S. EconomyOverviewAirline IndustryGeneral Aviation IndustryJobsTechnology and InnovationDomestic and International TradeNext GenImpact of Economy on Aviation

Airline IndustryConsists of 100 certified passenger airlinesConducts over 11 million passenger flight departures each yearCarries over one-third of the worlds air trafficEarned over $160 million in revenue in 2006What are Aviations Contributions to the U.S. Economy?1. It creates Jobs2. It propels Technology and Innovation3. It facilitates global and domestic Trade

It Creates JobsAs of November 2010, the U.S unemployment rate was 9.8%Without the pool of aviation jobs, the rate would be 14%Civil aviation employs 10.9 million AmericansGeneral aviation employs 1.2 million Americans

The Aviation Industry provides 10.9 Million U.S. JobsU.S. Job Impact (in millions) Directly

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Technology and Innovation

Why is Aviation Technology Important for our Economy?Technology is needed to reduce inefficiencies, decrease noise, increase passenger safety, and reduce the carbon footprint on the environment. Due to rising costs surrounding fuel consumption, aircraft manufacturers and technological experts are racing to come up with climate and cost-friendly alternatives to jet fuel. To reduce gas consumption and trDomestic and International Trade

Domestic and International TradeAviation is Essential for Global BusinessIt facilitates Economic Growth and World TradeIn 2009, the value of all goods transported by air represented 35% of the worlds international tradeThe total global impact from aviation was $35 trillion or 7.5% of the world GDPThe FAA and Next-Gen The Problem? Flight Delay is a serious and widespread problem in the United States. Increasing flight delays place a significant strain on the U.S. air travel system and cost airline, passengers, and society billions of dollars each year In addition to these direct costs imposed on the airline industry and its customers, flight delays have indirect effects on the U.S. Economy. Specifically, inefficiency in the air transportation sector increases the cost of doing business for other sectors, making the associated business less productiveNext Gen- The FAA solution to Flight DelaysWhat is NEXTGEN?- the transformation of the US national airspace system. It represents an evolution from a ground-based system of air traffic control to a satellite-based system of air traffic management. This evolution is vital to meeting future demand, to avoid gridlock in the sky and our nations airports. How will Next Gen improve Economy?How does this help the economy?-When fully implemented, Next Gen will safely allow more aircraft to fly more closely together on more direct routes, reducing delays, and providing unprecedented benefits for the environment and the economy through reductions in carbon emissions, fuel consumption, and noise.Next Gen is designed to:-Increase airport capacityMaximize airport capacityIncrease airspace efficiencyImprove fuel consumption References