The business of engineering has been changing dramatically in the recent past. Let’s examine what’s changing — and why. The following are 5 of the most important engineering business trends in 2018.
1. The Engineering Services Industry Continues To Grow
Analysts at the US Bureau of Labor Statistics are forecasting a growth rate of 13 percent in the numbers of managers that engineering services employers will hire by the year 2026. This is not a new trend; the upward trajectory has been long established.
In 2010, there were 176,800 architectural and engineering managers actively working in the USA. As of 2016, that number had grown to 180,100. By 2026, BLS employment experts expect to see 190,000 architectural and engineering managers at work in the USA.
Civil engineering services will be in highest demand, according to their forecast. They make this prediction based on the current state of the USA’s aging highways, buildings, and other infrastructure. They also anticipate strong future demand for mechanical engineering services and electrical engineering services.
2. It’s Becoming More Challenging To Obtain A Job As An Engineering Manager
While demand for engineering managers is growing, it’s glowing at a slow rate of pace compared to the US economy overall. Meanwhile, the number of people who want to enter this field is also growing — and it’s growing more rapidly than these jobs are being added to the economy.
It’s becoming increasingly important to gain an advanced degree to successfully compete for these lucrative jobs, which can pay upwards of $200,000 US per year. Many candidates for these jobs have earned MBA degrees, Master of Engineering Management degrees or Master of Science in Technology Management degrees.
3. Demand For Aerospace Engineers Is Rebounding
After a period of declining demand for aerospace engineers, there’s renewed interest in hiring talented people in this discipline. While the hiring growth rate is not exceptional at 6 percent overall, it is at least keeping pace with the average growth rate of the rest of the US economy.
Employers are looking to hire new aerospace engineers for a variety of reasons. Some are interested in developing new satellite technology. Cubesats and other small satellites are of particular interest to some engineering firms and government employers right now. Interest in drones and other unmanned aircraft is also driving demand for new talent in this discipline.
4. There’s Rising Demand For New Environmental Engineering Technicians
Demand for new environmental engineering technicians is increasing at a brisk rate of 13 percent. This trend is likely to continue through at least the year 2026, according to analysts at the BLS. It’s technicians rather than engineers who are being hired in these greater numbers due to the lower overall costs incurred by technicians.
Governmental and industrial water conservation efforts are driving much of the increase in demand for talent in this discipline. Governments and businesses are both increasingly concerned with using water efficiently, treating wastewater effectively and preparing to manage storm waters safely.
5. Universities Are In Dire Need Of New Part-Time Engineering Teachers
Demand for new part-time postsecondary engineering instructors is growing at an astounding rate of 15 percent, according to experts at the BLS. This growth is due to increased demand for higher education in the field of engineering.
If you’re thinking of starting an engineering business or entering the field, we hope this information will be helpful to you as you plan your business strategies for the future.
If you are interested in even more technology-related articles and information from us here at Bit Rebels then we have a lot to choose from.