Throughout 2010, some industries were fortunate enough to experience a bit of relief from the economic recession; however, numerous perspectives do not show much hope for architecture and engineering industries for the rest of the year. According to recent research firms will continue to compete for a minimal amount of projects, which will cause more firms to suffer economically.
Mark Zweig, CEO of ZweigWhite research firm, expects business in the commercial, retail, and hospitality areas of architecture to continue to suffer, according to the firm’s latest data. The American Institute of Architects’ (AIA) Architecture Billings Index also shows that there is minimal activity in the in the industry of nonresidential construction and there has not been a fervent interest for new projects. In addition to this evidence, it is apparent that many firms have reduced their staff over the last year.
Despite increases in design business from healthcare, higher education, airport, highway, and bridge projects, the report says that the market still is progressing at a slow pace. With are many factors contributing to this sluggish activity, it is undoubtedly very stressful for architects and their companies. Nonetheless, as the country continues to reflect more about the economic recession, and the improvements that can be made—especially in the areas of energy efficiency and cost reduction—more companies and industries will begin to turn to architecture firms to seek better design solutions.
Many firms will have to take drastic measures in the coming months to stay afloat during these difficult economic times, reads the research. Companies should be encouraged to maintain a positive outlook for the future while keeping up with current technology trends, so they can be prepared to share their creative abilities and talents when the country finally recovers and the demand for architecture begins to grow once again.