With 40+ years in aerospace, what I see is history repeating itself. Nearly every 10-12 years there has been a huge turnover of personnel, either due to the graying workforce, layoffs, or downturn in business caused by external events - e.g., end of the Vietnam war, fall of the Soviet Union, Arab oil embargoes, economic recessions, etc. Sadly, each cyclic downturn resulted in the loss of talented people and even more painful, "tribal knowledge" of not just the products but the industry. With few graybeards left, replacements aren't trained in the crafts, they have to learn the important skills from scratch which takes time, typically 3 years or more. What's scary is that the market and the industry operate at increasingly faster paces over time, thus creating a knowledge gap which catchy programs like "Accelerator" fail to address. Sadly, leadership lacks the vision to plan for these inevitable cycles and the courage to invest in people to sustain the business.
Great insight from @7dxw+1gL3ir45, reposted for higher visibility.