The US aviation industry is experiencing rapid growth, presenting opportunities for suppliers. According to the Airports Council International, the aviation industry is predicted to fully recover from the effects of Covid-19 restrictions by 2024, with passenger traffic estimated to reach 9.4 billion. The demand for air travel is expected to double by 2040, growing at an annual average rate of 3.4% [ed4482e0].
The US aviation industry is a significant contributor to the country's economy, supporting over 1.1 million jobs and having an economic impact of over $1.7 trillion annually [11de8f03]. In response to this growth, Artemis Aerospace has opened two new hubs in Miami, Florida, and Los Angeles, California, to streamline orders and deliveries and provide rapid solutions to flight training operations. The company offers component supplies, repairs, flight simulation hardware support, and global aircraft logistics [ed4482e0] [11de8f03].
Artemis Aerospace specializes in providing component solutions for the aviation sector. By expanding its presence in the US, Artemis Aerospace aims to meet the increasing demand for aviation components and support services in the thriving US aviation industry [11de8f03].
Arizona is also playing a significant role in the growth of the space sector through education, collaboration, and the economy. As the fifth-largest employer in aerospace and defense manufacturing, Arizona is home to more than 1,250 supply chain contributors, with major industry players employing over 52,000 people directly. The state has implemented programs and initiatives to foster student interest in STEM education, with the University of Arizona ranking in the top six for NASA-funded activity and ASU being a top university for space science [95ece04f].
With the expansion of Artemis Aerospace in the US aviation industry and the growth of the space sector in Arizona, there are ample opportunities for suppliers to capitalize on the increasing demand for aviation components and support services in these thriving industries.