The Aviation Mechanic Shortage Is Worse Than You Might Think

A severe shortage of skilled workers, including mechanics and technicians, affects the entire aviation industry, and finding a quick fix anytime soon seems unlikely.

Michael Wildes

Friday, August 05, 2022 at 08:47 AM ET

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Boeing projects that the industry will have to recruit, train, and hire 610,000 new maintenance technicians by 2041. [Photo: Shutterstock]

Key Takeaways:

The aviation industry is experiencing a severe and persistent shortage of skilled mechanics and technicians, significantly impacting operations and profitability for companies like Raytheon.
This labor crisis is driven by factors such as uncompetitive wages, physically demanding work conditions, and a lack of modern workplace flexibility, leading experienced workers to leave for other industries.
The shortage was exacerbated by the COVID-19 pandemic, which saw an exodus of veteran staff, and is further intensified by growing competition for mechanical talent from sectors like automotive and new aviation technologies.
A quick resolution is not anticipated, as addressing the issue requires substantial increases in compensation and improvements to the employee experience, posing significant financial challenges for aviation businesses.

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A severe shortage of skilled workers, including mechanics and technicians, affects the entire aviation industry, and finding a quick fix anytime soon seems unlikely. For instance, on its second-quarter earnings call last week to investors, Raytheon Technologies (NYSE: RTX) leaders alluded to and fielded questions about labor challenges 32 times, which was eight times more than any mentions of revenue.

On that call, Neil Mitchill, Raytheon’s chief financial officer, pointed out how bad that was for the company when he said, “the absence of productivity” from not enough workers being available to complete projects was hurting profit margins between 15 and 30 percent.