FMI’s 2011 U.S. Markets Construction Overview
Senior managements need to be looking beyond the current turmoil and toward what their companies will look like coming out of the down cycle.
FMI, a provider of management consulting and investment banking to the engineering and construction industry, announces the release of its 2011 U.S. Markets Construction Overview, offering insight into some of the engineering and construction industry’s most complex business challenges.
This year’s Overview consists of three major pieces: a compilation of trends in the current environment, important issues facing nine client groups served by FMI and the fourth quarter 2010 economic forecast.
A few highlights include:
- Nonresidential building construction has experienced a steep decline, which will extend well into 2011.
- Many trade contractors will shift to new market sectors to bolster weak backlogs.
- Lodging, office and commercial are overbuilt.
- Population growth is driving demand for healthcare, education and public safety sectors.
- More competition for fewer private jobs is increasing bidders on public projects.
- Sustainable or green construction will drive demand for LEED-certified buildings.
- Labor-intensive contractors hired heavily during the boom are now experiencing painful downsizing.
- Innovation is driving efficiencies in prefabrication, standardization and supplier integration.
- As the baby boomers age out, many firms will face succession and transition challenges.
- Industry consolidation will create attractive acquisition opportunities.
FMI publishes the U.S. Markets Construction Overview annually. The Overview includes a comprehensive report on vital construction trends and forecasts the growth or decline in each market segment, noting both short-term and long-term considerations.
- Edited by Gust Gianos, CFE Media, Consulting-Specifying Engineer, www.csemag.com
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Annual Salary Survey
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Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.