Highlights: The Changing Face of Aerospace in Southern California Report

Highlights: The Changing Face of Aerospace in Southern California Report


(light music) – We do think that aerospace in defense is alive and well here. One of the reasons why the EDC decided to focus on aerospace
is really two things. Number one, the wages
in the sector are about 45% higher than the average
manufacturing wages. The second thing is that
it’s a huge export sector. The US is in a trade situation. Actually, in aerospace and defense we’re at a 67 billion dollar surplus. AeroVironment has emerged
as probably the leading supplier of small unmanned aerial aircraft to the Pentagon. We’ve got a lot of big
space launch service and other various satellite
programs going on. People are changing. And how are we changing? In some simple ways. We’re getting older. We’re getting more educated. We’re having less children. We’re getting more diverse. And women are more powerful. We’ve got more engineers. We’ve got more competition. The middle class in Asia Pacific is larger of that than in the United States and in Europe combined. We’ve gotta get smarter and
we’ve gotta be more efficient about what we do. Technology continues to be a part of that. How can we compete and win? How can we have a competitive advantage? Original competitive advantage
was boots on the ground, assets on the ground; things from below and beneath. What about planes, intelligence, stealth, precision-guided missiles, robotics, and autonomy? You spend a lot of money. You do a lot of research. You hire a lot of smart people. You create a lot of expensive things. What are those things that can give us a growth curve or a competitive advantage? We’ve picked eight that
we think are important for all industries, and
particularly the aerospace and defense industries. The first one is artificial intelligence. The second technology that
is really exciting right now is augmented reality. The third one, obviously,
with all this exciting stuff that I’m talking about, is cyber security. I know we’re gonna hear more
about that later as well. The fourth one is drones. The sixth one is cloud and big data. The internet things, I
think, is the seventh one. Robotics is the eighth. Then last, but not least, is 3D printing. People wanna be in southern California. It’s always been a place of innovation. There’s always been a
good start-up ecosystem, and there’s always good access to capital. I think this is the most diverse region in terms of the platforms. We got satellite here. We got rockets here. We got fix wig aircraft. We got helicopters. We got ships. We got drones. We got a little bit of everything. We wanna know about what people are doing in terms of an innovation perspective. We wanna know where the investors are. We wanna know where the opportunities are to team together to make
us more competitive.

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