Business Trends To Watch in 2023

Here's what we see on the horizon for 2023.

Tuesday, May 16, 2023 at 11:52 AM ET

Verified

There are four themes that will capture our focus in 2023, and in many ways, they are continuations of trends that stretch back for years. [Credit: Jim Barrett]

Key Takeaways:

The FAA is set to mandate Safety Management Systems (SMS) for a wider range of business aviation operators (Parts 21, 91, 135, and 145) to enhance safety standards, with a Notice of Proposed Rulemaking expected in Fall 2023.
The aviation industry is accelerating sustainability initiatives, largely driven by the Inflation Reduction Act's tax credits for Sustainable Aviation Fuel (SAF) and federal goals to significantly boost SAF production by 2030 and 2050.
A critical workforce challenge persists across all aviation sectors, including pilots and skilled manufacturing workers, necessitating creative recruitment strategies focused on flexibility to support industry growth.
Innovation, particularly in emerging aerial mobility and future technology ventures, faces a make-or-break year requiring tangible progress toward certification to avoid consolidation amid tightening investor belts and the need for regulatory support.

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If 2022 represented the return to normal, how would you describe the year ahead? I can think of four themes that will capture our focus this year. In many ways, they are continuations of trends that stretch back for years. However, with business and general aviation’s accelerated growth over the last three years, these things are now more urgent.

This Article First Appeared in FLYING Magazine

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