Closing the Talent Gap in Aerospace and Defense

In 2023, the aerospace and defense industry (A&D) made record revenue, reaching USD 829 billion, and passenger travel was just 6% lower than pre-pandemic travel. The industry is only expected to boom even more this year. Despite this, there is still a talent shortage due to fewer students pursuing the STEM field, high competition to attract candidates, and rapid technology developments creating a high demand for employees skilled in AI, cybersecurity, and advanced manufacturing.  

Impact on Innovation  

Consequently, the industry has experienced slower innovation because there is a lack of skilled workers who can research and develop new solutions. Additionally, the shortage of skilled labor affects the industry’s ability to meet the growing demand for commercial and military aircraft. 

To address this, companies are investing in upskilling programs, mentorship opportunities, and reconsidering the hiring process to nurture the next generation of talent. 

 

Managing the Talent Gap  

To reach A&D’s full potential, companies are exploring and implementing a variety of strategies: 

    • Culture of Continuous Learning | Currently, 29% of the A&D workforce is over the age of 55, causing a wave of retirements that will create a knowledge gap over the next 10 to 20 years. To mitigate this, mentorship programs are being established for cross-generational collaboration to ensure effective knowledge transfer. Moreover, some are developing reskilling and upskilling programs to develop existing talent to meet industry needs.   
    • Revamp Hiring | Expand recruitment efforts to include nontraditional groups who can offer fresh perspectives and ideas. Focusing on diversity can help the industry tap into a wider pool of talent, ensuring a more dynamic and innovative company environment.  
  • Education Partnerships | To directly address fewer students pursuing STEM, companies are partnering with educational institutions that specialize in STEM education. This enables them to fund student research and offer apprenticeships to foster future employees.  

 

As the aerospace and defense industry continues to develop, closing the talent shortage gap will be vital to maintaining innovation, meeting production demand, and creating long-term growth.   

By deploying comprehensive strategies to develop and retain skilled employees, A&D can build a stronger workforce for the future.