Trends and Conclusions 1 Traffic outlook driven by growth markets, offset by decelerating HGR economic expectations as well as policy and infrastructure limitations 2 As expected, orders down and backlog moderating with fewer new product launches 3 New NBs driving growth and capturing share; NEO, MAX, E2, C-Series, etc 4 WBs burning off excess capacity; orders weak, parked and retired flat to down 5 Retirements remain conservative as fuel remains modest, restricting the future supply of surplus material and driving surplus part prices higher 6 Airlines rationalizing capacity with continuing high load factors, though NB order backlogs indicate a large expectation for continued growth 7 Robust competition for share of aftermarket forcing suppliers to raise their game 8 Optimism extended from politics to nascent technologies as investors seek new opportunities
展开▼