The Trade and Technical Schools industry has experienced fluctuations over the past five years, largely due to the recession and stagnant growth in federal funding. High unemployment has caused individuals to seek out further education, while employers are increasing their training requirements to remain competitive. Over the five years to 2021, decreasing unemployment rates combined with the increasing tuition of four-year colleges, will both boost enrollment in vocational training, and hamper industry growth. With consumer confidence recovering in stride with the economy and employment, the memory of the effects of the financial crisis will fade and individuals are expected to re-enter the job market while seeking some training to improve their chances of being hired in a competitive environment.
This industry includes schools that offer vocational and technical training in a variety of technical subjects and trades. Training often leads to job-specific certification. Instruction may be provided in diverse settings, such as the company’s training facilities, the workplace, the home or through distance-learning methods. Major segments include cosmetology and barber schools, flight training, apprenticeship training and other technical training.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.