General Aviation - Marketing Role Models Essay Example | Topics and Well Written Essays - 5000 words

General Aviation - Marketing Role Models - Essay Example The onus of the growth and maturity of the aviation industry lies on four significant individuals – Clyde Cessna, Walter Beech, Lloyd Stearman and Russ Meyer. Clyde was the pioneer in designing and building monoplanes while Stearman concentrated and manufactured biplanes. Stearman is responsible for the Boring Aircraft manufacturing Company that still serves the nation and the world today. Cessna and Beech had only rudimentary education up to fifth grade while Stearman and Meyer received formal education. Meyer, apart from being a pilot, was a good administrator and leader and is responsible to revive the light aircraft industry. An inner urge and quest for designing led Cessna, Beech and Stearman to create, design and build airplanes. The fact that this was possible without formal education demonstrates the technical acumen that existed in all of them. Beech and Stearman have been enshrined in the Aviation Hall of Fame for their invaluable contribution to the aviation industr y. All of them had a very humble beginning and could rise in life due to their dedication and creative abilities with which they were endowed. In the last 50 years the airlines industry of US has experienced reasonably profitable to devastatingly depressed periods. The US was the first major market to deregulate the industry in 1978 and it has experienced more turbulence than any other airline or region (Wikipedia). Deregulation led to higher competition and drop in airfares. This can be a major constraint for established carriers which tend to have a higher cost base compared to the new entrants. The global aviation industry is expected to grow at Compound Annual Growth rate (CAGR) of 5.6% in the period between 2004 and 2024 (Zinnov LLC, 2007). Air travel is correlated to wealth and has increased over the years with the increase in the GNI. The markets in the US and Europe are growing at a slower pace that the rest of the world. This is demonstrated through a fall in their global share