In the great 2009 recession, exactly one major segment of the commercial economy held up with no pain: Large jetliner output increased, despite the worst economy the world had seen since WW II. This is not because jetliner production is a lagging economic indicator; deliveries will stay at a high level this year, and Airbus and Boeing are largely concerned about logistical challenges to any future production rate increases. This somewhat unexpected market performance was certainly welcome in an industry more accustomed to painful cyclical downturns. It also raises questions about the scope of further growth and any risks that lie ahead.
展开▼