Are architecture, engineering and construction (AEC) firms prepared for an upswing? More than 80% of CEOs participating in a conference board roundtable see improved economic conditions in the coming months, the highest confidence level since 2004, according to Axios.
While some AEC markets declined during the pandemic, others experienced growth. For example, warehouse construction grew from approximately one-quarter of put-in-place commercial construction in 2015 to nearly half in 2020, representing approximately 18% growth year-over-year. For many AEC companies, 2021 will be a “bridge year,” of recovery in preparation for a possible upswing in 2022.
Reprinted courtesy of Pamela A. Scott, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.