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The aerospace industry is recovering after a difficult few years. TopMBA.com finds out why this is good news for those MBAs looking to work in the sector.
With a sigh of relief, aerospace employees and firms the world over welcomed news that business in the sector is at last beginning to pick up again after several years of thin order books, project delays and poor financial results. This is good news for those looking to work in the sector, as demand is set to be on the up for MBAs with a first degree in engineering, looking to join the leading global aerospace contractors and the many thousands of supplier firms that support their activities.
An MBA is becoming an accepted qualification within the management ranks of the Aerospace industry, which has embraced multi-national supply chains and a multinational client base. The intercultural experience of an MBA is well suited to the industry and their is even an MBA specialising in the Aerospace industry at ESC Toulouse. As new models are introduced and air travel embraces environmental controls, it's likely that the next few years in aerospace will be far more exciting for those willing to take the management challenge, as competition for the best minds hots up.
Rolls-Royce seem well placed for coming years with the Trent engine entering service with both of the two most significant airliners under development - Airbus A380 Superjumbo and Boeing's 7E7 Dreamliner. Rolls-Royce points out that its strategy of 'investing once in technology and applying it many times' allowed it to reap the benefits of core products such as the Trent in multiple markets such as aerospace, marine and power generation. On the airline manufacturing side, both EADS (the firm behind 80% of Airbus) and Boeing issued improved forecasts. Although Airbus is plagued by delays on it's super-jumbo, it is on track to beat last year's delivery level of 305 planes and is increasing aircraft production in line with demand.
Boeing is upbeat too, having raised its 2006 production estimate to between 315 and 320 aircraft. Though fairing better, Boeing is, however, still unhappy with the status quo regarding government subsidies supporting Airbus and its development of new aircraft. The point was highlighted on the global stage during a visit to a Boeing factory by US President Bush. Speaking to employees at the visit, Mr Bush explained "I think those subsidies are unfair. I think it makes it unfair to this American company that these European governments continue to subsidize Airbus."
The comments from Mr Bush came ahead of suggestions that Boeing is worried that Airbus may receive government loans to help it research and build a rival to Boeing's 7E7 - the first all-new aircraft Boeing has designed in 15 years. As a small, fuel-efficient aircraft with 200 to 300 seats, the 7E7 is suited to flying point-topoint around the world. Airbus, on the other hand, have thus far had their heads down overcoming production delays on the new A380 Superjumbo which has wiped a large chunk off it's market capitalisation.
The A380 is an aircraft that will seat close to 600 passengers and which is aimed at flying on a small number of high volume long-haul routes. When finally on the production line it should restore Airbus profits very quickly. Though both companies still claim their side in the big versus small argument, Boeing has been convinced that Airbus will sooner or later try to build a new mid-sized plane to counter the 7E7. Industry sources recently confirmed that Airbus is looking at modifying the 15 year old twin jet A330 to make it at least as economical as the 7E7. It makes sense for Airbus to be looking to new projects. Many of the thousands of engineers recruited to develop the A380 are soon to have a lot less work on their hands, and the 7E7 concept is getting good reception in the market: four airlines have so far ordered a total of 62 aircraft, with proposals received by Boeing for a further 200.
Hit hard by the 2001 decline in air travel, many airlines are now on the road back to recovery. Though increased oil prices are affecting margins, most are now carrying passengers in similar numbers to pre-2001. German airline Deutsche Lufthansa is even planning for a replacement of its fleet of Boeing 737 short-haul aircraft in the next two years.
The carrier currently has 58 737s covering a large part of its short-haul network. At the long-haul end of the range, most of its recent investment in new aircraft has been focused on buying from Airbus. A 750m Euro rights issue earlier this year helped finance the purchase and roll-out of 15 Airbus A380. The worry for Boeing is that Lufthansa may choose to move towards an all-Airbus fleet to help reduce pilot and maintenance costs. The cost of replacing the entire 737 fleet could be as much as 3bn Euros based on list prices, so it looks set to be a hard fight.
Meanwhile, on the military side, the modernisation of the Armed Forces is under way in many countries. In the UK alone, 5bn Euros of new money is earmarked to take advantage of technological changes, particularly through "Network Enabled Capability" aimed at linking all areas of the battlefield together. In addition, the threat from terrorism was cited as a key factor in increasing spend. Funds have been earmarked for new systems including Skynet 5, a next generation satellite communications network and Watchkeeper, an unmanned aircraft being built for the UK by French firm Thales.
MBA Careers in Aerospace
By QS Contributor
Updated UpdatedThe aerospace industry is recovering after a difficult few years. TopMBA.com finds out why this is good news for those MBAs looking to work in the sector.
With a sigh of relief, aerospace employees and firms the world over welcomed news that business in the sector is at last beginning to pick up again after several years of thin order books, project delays and poor financial results. This is good news for those looking to work in the sector, as demand is set to be on the up for MBAs with a first degree in engineering, looking to join the leading global aerospace contractors and the many thousands of supplier firms that support their activities.
An MBA is becoming an accepted qualification within the management ranks of the Aerospace industry, which has embraced multi-national supply chains and a multinational client base. The intercultural experience of an MBA is well suited to the industry and their is even an MBA specialising in the Aerospace industry at ESC Toulouse. As new models are introduced and air travel embraces environmental controls, it's likely that the next few years in aerospace will be far more exciting for those willing to take the management challenge, as competition for the best minds hots up.
Rolls-Royce seem well placed for coming years with the Trent engine entering service with both of the two most significant airliners under development - Airbus A380 Superjumbo and Boeing's 7E7 Dreamliner. Rolls-Royce points out that its strategy of 'investing once in technology and applying it many times' allowed it to reap the benefits of core products such as the Trent in multiple markets such as aerospace, marine and power generation. On the airline manufacturing side, both EADS (the firm behind 80% of Airbus) and Boeing issued improved forecasts. Although Airbus is plagued by delays on it's super-jumbo, it is on track to beat last year's delivery level of 305 planes and is increasing aircraft production in line with demand.
Boeing is upbeat too, having raised its 2006 production estimate to between 315 and 320 aircraft. Though fairing better, Boeing is, however, still unhappy with the status quo regarding government subsidies supporting Airbus and its development of new aircraft. The point was highlighted on the global stage during a visit to a Boeing factory by US President Bush. Speaking to employees at the visit, Mr Bush explained "I think those subsidies are unfair. I think it makes it unfair to this American company that these European governments continue to subsidize Airbus."
The comments from Mr Bush came ahead of suggestions that Boeing is worried that Airbus may receive government loans to help it research and build a rival to Boeing's 7E7 - the first all-new aircraft Boeing has designed in 15 years. As a small, fuel-efficient aircraft with 200 to 300 seats, the 7E7 is suited to flying point-topoint around the world. Airbus, on the other hand, have thus far had their heads down overcoming production delays on the new A380 Superjumbo which has wiped a large chunk off it's market capitalisation.
The A380 is an aircraft that will seat close to 600 passengers and which is aimed at flying on a small number of high volume long-haul routes. When finally on the production line it should restore Airbus profits very quickly. Though both companies still claim their side in the big versus small argument, Boeing has been convinced that Airbus will sooner or later try to build a new mid-sized plane to counter the 7E7. Industry sources recently confirmed that Airbus is looking at modifying the 15 year old twin jet A330 to make it at least as economical as the 7E7. It makes sense for Airbus to be looking to new projects. Many of the thousands of engineers recruited to develop the A380 are soon to have a lot less work on their hands, and the 7E7 concept is getting good reception in the market: four airlines have so far ordered a total of 62 aircraft, with proposals received by Boeing for a further 200.
Hit hard by the 2001 decline in air travel, many airlines are now on the road back to recovery. Though increased oil prices are affecting margins, most are now carrying passengers in similar numbers to pre-2001. German airline Deutsche Lufthansa is even planning for a replacement of its fleet of Boeing 737 short-haul aircraft in the next two years.
The carrier currently has 58 737s covering a large part of its short-haul network. At the long-haul end of the range, most of its recent investment in new aircraft has been focused on buying from Airbus. A 750m Euro rights issue earlier this year helped finance the purchase and roll-out of 15 Airbus A380. The worry for Boeing is that Lufthansa may choose to move towards an all-Airbus fleet to help reduce pilot and maintenance costs. The cost of replacing the entire 737 fleet could be as much as 3bn Euros based on list prices, so it looks set to be a hard fight.
Meanwhile, on the military side, the modernisation of the Armed Forces is under way in many countries. In the UK alone, 5bn Euros of new money is earmarked to take advantage of technological changes, particularly through "Network Enabled Capability" aimed at linking all areas of the battlefield together. In addition, the threat from terrorism was cited as a key factor in increasing spend. Funds have been earmarked for new systems including Skynet 5, a next generation satellite communications network and Watchkeeper, an unmanned aircraft being built for the UK by French firm Thales.
CompanyKey areasWebsite Main sitesEADS Large civil and defence contractor www.eads.com WorldwideRolls-Royce Aero engine manufacturerwww.rolls-royce.com/careers Germany UK and USABoeingMiscellaneouswww.boeing.com USABAE SYSTEMSLarge defence contractor https://www.baesystems.com/careers-rzzUK and USAGKNAutomotive and Aerospacehttps://www.gkn.com/aerospace/careers/Pages/default.aspx WorldwideAirbus Aircraft manufacturer www.airbus.com/careers France, Germany, UK and SpainQinetiQEngineering researchhttps://www.qinetiq.com/careers/Pages/default.aspxUKThales Large civil and defence contractor https://www.thalesgroup.com/Careers/Worldwide
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