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Satellite manufacturers cut jobs despite massive revenue growth

US: Despite seeing a 23% revenue increase in 2012, the satellite manufacturing sector also saw the biggest loss of US satellite jobs. According to the Satellite Industry Association (SIA) “State of the Satellite Industry Report,” released on June 10, the sector lost about 6% of workers.

However, Patricia Cooper, president of the SIA, said the employment decrease is only minor. “It’s a slight decline in the satellite employment over the last couple years, according to Bureau of Labor statistics,” she said, noting that the loss is less significant than the 8 percent employment drop over the past five years. “It’s been a relatively gentle decline particularly compared to trends in other manufacturing and service sectors,” Cooper added.

Even in some of the toughest worldwide economic times in history, satellite industry revenues increased overall by 7% in 2012 with revenues at $189.5 billion. The launch, manufacturing, services, and ground equipment sectors demonstrated growth, according to the report, which was compiled with an in-depth industry analysis by The Tauri Corp.

“SIA and the U.S. government have been watching manufacturing very closely. We were pleased to see 2012 was the year when a significant number of spacecraft were launched and revenues were up. Big government programs were delivered in 2012 which continued the cycle of the big fleet operators expanding and replenishing their satellites,” Cooper added.

Source: Satellite Today