January 2017 Aerospace INDUSTRY PROFILE
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1 January 2017 Aerospace INDUSTRY PROFILE for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region
2 AEROSPACE Background Colorado is an aerospace center of excellence, paving the way for new discovery in the frontier of space. The state has a rich history in aerospace development and is at the forefront of space travel, exploration, and leading aerospace research. In addition to its strategic location, the state s educated workforce, dynamic atmosphere for business growth, and hub of high-tech innovation have revolutionized the state s growing aerospace industry. Combined, these assets support Colorado s position as a top aerospace state. In fact, Colorado ranked second in the nation in 2016 for both private aerospace employment as a percentage of total employment, and in total private-sector employment. Colorado s aerospace industry includes a broad range of companies, products, and systems for commercial, military, and civil space applications. Colorado s aerospace companies research, develop, design, and manufacture guided missiles, spacecraft, satellites and communications equipment, as well as navigation and detection instruments. Colorado companies also produce planetary spacecraft and launch systems, and provide mission support. The state s companies and public agencies have achieved some of the most innovative advancements in space exploration technology in recent history and are leading the nation s major commercial, civil, and military space missions and projects. Eight of the nation s top aerospace contractors have significant operations in the state, leading the country s space projects. Along with major U.S. Department of Defense (DoD) facilities and the National Aeronautics and Space and Administration (NASA) research and development activities, the state s universities are home to leading aerospace programs. Colorado continues to experience growth in aerospace, with nearly 180 businesses classified as aerospace companies, and more than 400 companies and suppliers providing spacerelated products and services. Direct employment in the aerospace cluster totals 25,500 private sector workers and approximately 29,090 military personnel. These 54,590 workers in the aerospace cluster support an additional 133,690 workers in all industries throughout Colorado, bringing direct and indirect employment supported by the aerospace cluster to 188,280 workers. Further, Colorado s aerospace cluster payroll exceeded $3.4 billion. The majority of Colorado s key aerospace businesses, facilities, and research institutions are located in the nine-county Metro Denver and Northern Colorado region.1 The region s 20,020 private sector aerospace workers represent about 78.5 percent of all aerospace workers in Colorado. The region s 130 aerospace companies represent 74 percent of the state s total companies in the cluster. - Courtesy of Metro Denver Economic Development Corporation Rankings Business Insider ranked Colorado s economy the third best in the country, based on recent change in housing prices, nonfarm payroll growth, unemployment rate, GDP per capita, average weekly wage, and state government surplus and deficit. Forbes ranked Metro Denver sixth of fastest growing cities in Factors that earned us this standing included our 4 percent unemployment rate 2.66 percent job growth rate. According to Money magazine, Denver is the best city to live in the West. The ranking called Metro Denver a mecca for millennials and that the city has relatively affordable real estate and great access to recreation. WalletHub ranked three Metro Denver cities among the best in the country for first-time home buyers: Centennial ranked third, Longmont ranked ninth, and Thornton ranked 10th.
3 AEROSPACE Employment Concentrations This map show where the highest concentration of employment are in the aerospace sector, by county, within the Colorado Central Planning Region. Top Employment Concentrations by County County 2016 Jobs Business Establishments Jefferson County, CO 9, Boulder County, CO 6, Arapahoe County, CO 2, Larimer County, CO 1, Adams County, CO Broofield County, CO Denver County, CO Douglas County, CO Clear Creek County, CO < Gilpin County, CO Source: EMSI QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker National Location Quotient 2
4 AEROSPACE Competitive Analysis This table shows employment within the Colorado Central Planning Region in the top 20 occupations in the sector. Regional wage ranges and the median wage are shown, with yellowed cells indicating where wage offers may have to fall to attract and retain qualified candidates based on labor supply (applicants per job opening). SOC Code Description Software Developers, Applications Total Number Total Number Jobs (in Jobs (across industry) industries) Annual Openings Available Applicants Medical Scientists, , Except Epidemiologists , Accountants & Auditors ,474 1, Applicants Per Job Opening Average 10th Percentile 25th Percentile Median 75th Percentile 90th Percentile 0.31 $40.17 $19.11 $23.08 $31.57 $37.68 $ $49.79 $31.66 $39.16 $48.92 $59.11 $ $36.42 $20.67 $25.76 $33.14 $43.26 $ Software Developers, Systems Software , $52.32 $32.72 $41.85 $51.50 $61.94 $ Biological Technicians 785 2, Purchasing Agents, Except Wholesale, Retail & Farm 341 4, Products 0.48 $22.32 $13.99 $16.56 $20.95 $27.25 $ $33.51 $20.05 $25.31 $31.90 $40.93 $ Machinists 336 3, $21.76 $12.94 $16.46 $21.55 $26.97 $ Chemists 351 1, Mechanical Engineers 796 5, Atmosphere & Space Scientists 354 1, Industrial Engineers 474 2, $38.22 $19.02 $24.86 $36.74 $50.81 $ $44.36 $27.09 $33.11 $41.07 $54.18 $ $45.79 $29.32 $35.74 $44.59 $55.31 $ $45.08 $27.60 $34.97 $43.89 $54.92 $ Aerospace Engineers 783 1, $64.03 $36.85 $45.60 $58.73 $75.49 $ Electrical Engineers 346 3, Business Operations , Specialists, All Other 0.82 $46.00 $28.97 $34.76 $43.81 $54.87 $ $38.46 $20.21 $26.28 $35.93 $47.24 $61.41 Architectural & Engineering Managers 292 2, $76.97 $51.73 $60.67 $71.72 $87.81 $ Secretaries & Admin Assistant, Except Legal, ,821 1,055 1,071 Medical & Executive General & Operations Managers ,440 1,381 1,613 Electrical Engineers, , Except Computer Electrical & Electronic , Equipment Assemblers 1.01 $18.22 $11.65 $14.37 $17.78 $22.00 $ $64.77 $24.40 $35.58 $54.23 $84.55 $ $48.74 $31.19 $37.16 $46.73 $59.13 $ $16.96 $10.20 $11.92 $15.45 $20.62 $ Natural Sciences Managers 379 1, $67.85 $42.29 $50.80 $61.10 $75.53 $ Source: EMSI QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker 4
5 AEROSPACE Industry Growth This table shows projected yearly job growth through The National Location Quotient shows the relative concentration of employment in this industry in the Colorado Central Planning Region versus the national average. For example, with a Location Quotient of 9.68, you would read, employment is 9.68 times more concentrated in the Colorado Central Planning Region than the national average. 14, ,000 10,000 8,000 10,404 11, , ,000 2, Jobs 2021 Jobs Nonferrous Forging Radio & TV Broadcasting Broadcasting & Wireless Aluminum Foundries (except Die-Casting) Optical Instrument & Lens Manufacturing Research & Development in the Physical, Engineering & Life Sciences (except Biotechnology All Other Telecommunication Surgical Appliance & Supplies Manufacturing National Location Quotient Source: EMSI QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker
6 AEROSPACE Difficult to Hire This chart shows the relationship between the number of job listings versus the number of hires for each of the top occupations in the sector. If there are more listings than hires, it suggests that there are not enough qualified people to fill all the jobs. If there are more hires than listings, it suggests there may be too many qualified people to fill too few jobs. Difficulty to Hire Very Easy Easy Medium Difficult Very Difficult Occupation (SOC) Avg Monthly Postings Avg Monthly Hires Hires Per Listing Atmospheric & Space Scientists Chemists Machinists Secretaries & Administrative Assistants, Except Legal, Medical & Executive 1,053 2, Business Operations Specialists, All Other 763 1, General & Operations Managers 1,021 1, Electrical & Electronic Equipment Assemblers Aerospace Engineers Electronic Engineers, Except Computer Software Developers, Systems Software 1,999 1, Accountants & Auditors Biological Technicians Software Developers, Systems Software Mechanical Engineers Purchasing Agents, Except Wholesale, Retail & Farm Architectural & Engineering Managers Electrical Engineers Natural Sciences Managers 2, Medical Scientists, Except Edpidemiologists Industrial Engineers
7 AEROSPACE Top Jobs Top Jobs Currently Listed in the Central Planning Region, Last 120 Days Industrial Engineers Prior Year 36 Electronic Engineers, Except Computer Prior Year 21 Software Developers, Applications Prior Year 108 Electrical Engineers Prior Year 37 Information Security Analysts Prior Year 55 Aerospace Engineers Prior Year 13 Network & Computer Systems Administrator Prior Year 182 Computer System Engineers/Architects Prior Year 72 Software Developers, Systems Software Prior Year 38 Electronics Engineering Technicians Prior Year 22 Computer Systems Analysts Prior Year 26 Computer User Support Specialists Prior Year 31 Information Technology Project Managers Prior Year 19 Marketing Managers Prior Year 21 Purchasing Agents, Except Wholesale, Retail & Farm Products Prior Year 15 Software Quality Assurance Engineers & Testers Prior Year 31 First-Line Supervisors of Production & Operating Workers Prior Year 9 Mechanical Engineers Prior Year 14 Electricians Prior Year 7 Management Analysts Prior Year 18 Source: Wanted Analytics
8 AEROSPACE Training Pipeline Here are the top 20 jobs in the industry, by number employed and educational attainment level. High School or equivalent Secretaries & Admin Assistants, Except Legal, Medical & Executive SOC Code: Jobs: 42,821 Annual Openings: 1,055 Regional Completions: 45 Completers/Opening: 0.04 Electrical & Electronic Equipment Assemblers SOC Code: Jobs: 2,768 Annual Openings: 66 Regional Completions: 4 Completers/Opening: 0.06 Machinists SOC Code: Jobs: 3,104 Annual Openings: 177 Regional Completions: 82 Completers/Opening: 0.46 Bachelor s Degree General & Operations Managers SOC Code: Jobs: 30,440 Annual Openings: 1,381 Regional Completions: 6,084 Completers/Opening: 4.40 Architectural & Engineering Managers SOC Code: Jobs: 2,970 Annual Openings: 158 Regional Completions: 3,499 Completers/Opening: Natural Sciences Managers SOC Code: Jobs: 1,264 Annual Openings: 50 Regional Completions: 2,841 Completers/Opening: Purchasing Agents, Except Wholesale, Retail & Farm Products SOC Code: Jobs: 4,837 Annual Openings: 190 Regional Completions: 0 Completers/Opening: 0.00 Business Operations Specialists, All Other SOC Code: Jobs: 32,765 Annual Openings: 779 Regional Completions: 50 Completers/Opening: 0.06 Accountants & Auditors SOC Code: Jobs: 29,474 Annual Openings: 1,445 Regional Completions: 831 Completers/Opening: 0.58 Software Developers, Applications SOC Code: Jobs: 20,232 Annual Openings: 724 Regional Completions: 918 Completers/Opening: 1.27 Software Developers, Systems Software SOC Code: Jobs: 10,888 Annual Openings: 335 Regional Completions: 1,035 Completers/Opening: 3.09 Aerospace Engineers SOC Code: Jobs: 1,958 Annual Openings: 86 Regional Completions: 180 Completers/Opening: 2.10 Electrical Engineers SOC Code: Jobs: 3,094 Annual Openings: 124 Regional Completions: 375 Completers/Opening: 3.02 Electronics Engineers, Except Computer SOC Code: Jobs: 4,749 Annual Openings: 128 Regional Completions: 441 Completers/Opening: 3.45 Industrial Engineers SOC Code: Jobs: 2,557 Annual Openings: 129 Regional Completions: 0 Completers/Opening: 0.00 Mechanical Engineers SOC Code: Jobs: 5,322 Annual Openings: 302 Regional Completions: 721 Completers/Opening: 2.39 Atmospheric & Space Scientists SOC Code: Jobs: 1,687 Annual Openings: 57 Regional Completions: 47 Completers/Opening: 0.82 Chemists SOC Code: Jobs: 1,646 Annual Openings: 64 Regional Completions: 227 Completers/Opening: 3.56 Biological Technicians SOC Code: Jobs: 2,469 Annual Openings: 109 Regional Completions: 1 Completers/Opening: 0.01 Doctoral or Professional Degree Medical Scientists, Except Epidemiologists SOC Code: Jobs: 1,173 Annual Openings: 79 Regional Completions: 730 Completers/Opening: 9.29 Source: IPEDS Data Compiled by EMSI
9 AEROSPACE Top five Below are the top five core skills, workplace skills, certifications and companies in the aerospace industry. Core Skills 1 Oral & Written Communication 2 Microsoft Office 3 Integrity 4 Troubleshooting 5 Self-starting, Self-motivated Workplace Skills 1 Remote Sensing 2 C/C++ 3 Linux 4 Python 5 Java Certifications 1 Secret Clearance Top Secret Sensitive Compartmented 2 Information (TS SCI) 3 DOD Clearance Certified Information Systems Security 4 Professional (CISSP) 5 DOD 8570 Certification Companies 1 Lockheed Martin 2 Ball Aerospace 3 ViaSat 4 Medtronic 5 DigitalGlobe Source: Wanted Analytics
10 AEROSPACE Age Bands & Age Bands It is helpful to know the age bands in a sector, because if there is a substantial percentage of people above 55 years old, it means there will be opportunity as retirements happen. Based on Age Distribution, Arapahoe/Douglas Works! has developed a way to measure the age gap in an industry by comparing the number of workers over age 45 to the number under age 34. Age gap is shown both as a percentage and a count % % % % % % % Source: EMSI QCEW, Non-QCEW & Self-Employed This graph shows the week over week volume Source: Wanted Analytics 10
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