The U.S. isn’t the only major national player in the aerospace market, but according to a new report from PricewaterhouseCoopers, it still holds the No. 1 spot in this particular field. PwC’s rankings for aerospace manufacturing attractiveness come out on an annual basis, and American rank aside, 2018’s edition had a number of surprises.
On a global scale, Canada rose to the runner-up rank behind the U.S., a notable jump from its fifth-place rank in the 2017 PwC aerospace report. The top national aerospace markets for this year were mostly the same from 2017 to 2018 – America, Canada, the U.K. and Switzerland – though not in identical order, and with Australia losing its fourth-place spot to Switzerland, falling to No. 6. Singapore reached No. 3 for 2018’s list despite not even cracking the top 10 the previous year, reflective of significant aerospace development throughout the Asia-Pacific region.
It’s difficult to see any nation taking the No. 1 rank from the U.S. in the immediate future, largely due to the strength of individual state markets. Washington, unsurprisingly, is the best state for aerospace development in PwC analysts’ estimation, with 1,400 state-based companies operating in that field, including Boeing.
However, the statewide runner-up, Texas, is a huge change, jumping from eighth to second place. According to the Austin American-Statesman, this could increase Texas’s chances of playing host to the widely sought-after development job for Boeing’s latest commercial jet, which it wishes to manufacture outside Washington. Factors such as low taxes and a strong tech sector complementing aerospace could work in the state’s favor.