{"id":30393,"date":"2024-12-13T23:25:52","date_gmt":"2024-12-13T23:25:52","guid":{"rendered":"https:\/\/stateaviationjournal.com\/?p=30393"},"modified":"2024-12-13T23:28:03","modified_gmt":"2024-12-13T23:28:03","slug":"aviation-businesses-finish-strong-in-2024look-for-continued-growth-and-success-in-2025","status":"publish","type":"post","link":"https:\/\/stateaviationjournal.com\/index.php\/state-news\/new-jersey\/aviation-businesses-finish-strong-in-2024look-for-continued-growth-and-success-in-2025\/%20","title":{"rendered":"Aviation Businesses Finish Strong in 2024, Look for Continued Growth and Success in 2025"},"content":{"rendered":"\n

By Kim Stevens<\/p>\n\n\n\n

Photo above – <\/strong>Kinexis Consulting LLC, a New Jersey-based firm, established in 2016 performed well and met its goals in 2024.<\/strong><\/em><\/p>\n\n\n\n

\u00a0\u00a0\u00a0 For three very diverse aviation businesses, 2024 had one thing in common \u2013 each performed well. \u201c2024 has been a great year for us with a very strong 4th quarter,\u201d said Tim Cowsert with BrightPortal Resources<\/a>, a manufacturer of innovative solar-powered LED lighting products. \u201cWe are so grateful for our business and were rewarded with a very good year with a 25% increase over 2023.\u201d<\/p>\n\n\n\n

\u00a0\u00a0\u00a0 Steven Baldwin Associates<\/a> (SBA) has performed strong in 2024, exceeding revenue targets and maintaining healthy profit margins thanks to a combination of increased market penetration and the addition of new clients. \u201cOur disciplines including Airport Governance, Human Resource Support, including Executive Recruitment, and Airport Policy Research and Analysis all grew in 2024,\u201d said Steve Baldwin, President and CEO.<\/p>\n\n\n

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Saurabh Pethe<\/em><\/figcaption><\/figure><\/div>\n\n\n

\u00a0\u00a0\u00a0 The newest of the three businesses, Kinexis Consulting<\/a>, established in 2016, performed well and met its goals in 2024. \u201cWe set our objectives for 2024-2025 as (1) increasing Kinexis\u2019 market presence by expanding on our current services and adding new value-added airport services, (2) attracting and retaining top talent, (3) strengthening industry engagement through corporate social initiatives and (4) launching a successful social media campaign,\u201d said Saurabh Pethe (shown at left), Principal.\u00a0 \u201cSignificant progress has been made on all 4 objectives in 2024.<\/p>\n\n\n\n

    Baldwin said their customer base has grown in 2024 to include additional retained clients and as the preeminent leader in the industry on Airport Governance, they are working with another new client to transition them from a city\/council government model to a newly created independent, special purpose airport authority.<\/p>\n\n\n

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Patti and Tim Cowsert<\/em><\/figcaption><\/figure><\/div>\n\n\n

\u00a0\u00a0\u00a0 From Tim Cowsert\u2019s perspective the company gained a lot of ground by simply meeting face to face with folks at aviation conferences across the US. \u201cWe dug in and made more conferences this year and gained a lot of new ground,\u201d said Cowsert. \u201cIn addition, in Texas we saw a state match funding allowing airports to set up their taxiways with BrightPortal fixtures.\u201d<\/p>\n\n\n\n

    Although seeing positive results, the year was not without challenges for each of the three companies. As a small business, Kinexis faced challenges in 2024, that included increased interest rates, employee pay demands and extended contract award timelines. \u201cHowever, through strategic planning, Kinexis successfully onboarded new customers, strengthened relationships with existing clients and partners, and achieved our annual objectives,\u201d said Pethe.<\/p>\n\n\n\n

    For SBA it was procurement. \u201cProcurement is sometimes slow and cumbersome when an airport is structured in a municipal, city or county model – without an airport authority, or at least a strong commission. It slows down the rate of business and the ability to respond in a timely manner to both the client\u2019s needs as well as the needs of the airlines and other tenants at an airport,\u201d said Baldwin. \u201cAviation is dynamic and rapidly changing, often faster than an organization under a sub-optimal model can respond to airline and tenant needs, as well as those of the community.\u201d<\/p>\n\n\n\n

    For Bright Portal, the beginning of the year was sluggish. \u201cFortunately, we saw the needle moving mid-year and business really picked up in the 3rd and 4th quarters.\u201d <\/p>\n\n\n

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Steve Baldwin<\/em><\/figcaption><\/figure><\/div>\n\n\n

\u00a0\u00a0\u00a0 Looking ahead to 2025, the SBA team anticipates continued positive momentum with a focus on further expanding their reach both geographically and with service offerings. \u201cWe expect moderate growth in core product lines such as Governance while aiming for significant gains in our newer offerings related to HR support,\u201d said Baldwin.<\/p>\n\n\n\n

    SBA is projecting modest revenue growth from their core services plus adding one or two new service lines currently under review. \u201cOur key goal however is to continue to serve our existing clients with the highest quality of service we can provide. We value this deeply which is why SBA has such a strong client retention rate,\u201d said Baldwin.<\/p>\n\n\n\n

    The Kinexis team feels they are positioned well for continued growth and success in 2025 and remain deeply committed to their core values of \u201cPurpose, People, Process and Progress.\u201d<\/p>\n\n\n\n

    At BrightPortal, Tim and Patti Cowsert will continue to attend state aviation conferences and expect to gain more ground from all the seeds they were able to plant the last three years. \u201cWe expect to far exceed our 2019 [pre-Covid] numbers,\u201d said Cowsert. \u201cOf course, we really look forward to the new pro-business administration and anticipate great progress in 2025 and beyond. <\/p>\n","protected":false},"excerpt":{"rendered":"

By Kim Stevens Photo above – Kinexis Consulting LLC, a New Jersey-based firm, established in 2016 performed well and met its goals in 2024. \u00a0\u00a0\u00a0 For three very diverse aviation businesses, 2024 had one thing in common \u2013 each performed well. \u201c2024 has been a great year for us with a very strong 4th quarter,\u201d […]<\/p>\n","protected":false},"author":3,"featured_media":30394,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[115,51,52,62],"tags":[],"class_list":["post-30393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news","category-new-jersey","category-new-york","category-texas"],"jetpack_featured_media_url":"https:\/\/stateaviationjournal.com\/wp-content\/uploads\/Kinexis-Staff-Group-photo-edit.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/30393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=30393"}],"version-history":[{"count":2,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/30393\/revisions"}],"predecessor-version":[{"id":30399,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/30393\/revisions\/30399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media\/30394"}],"wp:attachment":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=30393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=30393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=30393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}