- Posted August 19, 2013 by
Happy Aviation Day - A Day in The Black
Did you know it is National Aviation Day today? Do you have any idea how much impact aviation has on the U.S. economy?
According to the 2011 study by the Federal Aviation Administration (FAA.gov), The Economic Impact of Civil Aviation on the U.S. Economy, "In 2009, civil aviation supported over 10 million jobs, contributed $1.3 trillion in total economic activity and accounted for 5.2 percent of total U.S. Gross Domestic Product (GDP). Civilian aircraft engines, equipment and parts also contribute $75 billion toward the U.S. trade balance. Civilian aircraft engines, equipment and parts have been the top net export for the past decade."
Eventhough the overall U.S. trade balance was in the negative by over $500 billion in 2009 and the total U.S. trade balance has been in the negative since 1971, the trade balance of U.S. civil aviation industry is in the black, contributing positively to the U.S. trade balance. "For decades, American-made aircraft have been in high demand both domestically and internationally, and sales of airframes, aircraft engines and parts boosted the economy. Due to the high quality of U.S. aerospace products, global demand continues to add to overall economic growth and job creation within U.S. borders."
The next time you see a pilot, airplane, helicopter, air crew member, or aviation technician, remember that its not just about flying.
Happy Aviation Day, A DAY IN THE BLACK!
[Quote Source, Public Domain: FAA.GOV - http://www.faa.gov/air_traffic/publications/media/FAA_Economic_Impact_Rpt_2011.pdf