The American Institute of Architects has revealed in its annual Firm Survey Report that U.S. architecture firms are nearing a complete post-Great Recession recovery, boasting billings of $28.4 billion in 2015, just short of its 2008 peak of $28.5 billion.
Renovations accounted for 45% of billings, breaking down to 30% for building additions and 15% for historic preservation. Residential billings rose 30% since 2013 to exceed $7 billion,
The growth of technology at firms is a major influencer of the growth, said Michele Russo, AIA senior director of research, in a press release. The cloud, virtual reality and 3-D printing contribute to a continued streamlining of construction processes, less waste and fewer delays.
