Canaccord Genuity - Aerospace/Defense Research

摘要

1.Total industry volume of ～1,000-unit average for 2021-2022 (～40% off 2019 peak) 2.ND deliveries reflect ～480 MAX inventory (majority expected in 2021-2022) 3.WB recovery reflects over build in 2014-2019 period 4.Estimates below largely reflect current OEM plans, but downside risk growing to both WB and NB schedules.