- THE MAGAZINE
- WEB EXCLUSIVES
Unsurprisingly, with the global economic situation, raw material costs and the exchange rate, 70% reported that the economy was impacting their business. In addition, only 32% planned to outsource work overseas in the next year.
In terms of quality, 91% believe that their company root cause corrective action process could be improved.
Moving onto regulatory issues, 36% stated that they fully understand the impact of the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations (EAR) on their business. With penalties including fines-Boeing was fined $3 million in 2008-and prison terms, it is important to all organizations, not just U.S.-based ones.
Supporting many other reports, 91% of respondents agreed that the aerospace industry is facing a shortage of qualified experienced personnel.