We anticipate the overall 2018 commercial market to grow at a healthy 4.5% annual rate compared to the 2.1% 2017 annual growth.
In 2018, the Asia Pacific market is expected to sustain its global lead with 10.7% commercial aerospace industry growth when compared to 2017. North America aerospace demand is expected to be up 5.9%. YoY. Optimistic signs are coming from Europe, Latin America and Middle East. We expect the EALA market will increase 1.7% YoY.
Global outlook: 2018 builds upon 2017 for higher growth rates across regions, with a tempered 2019 outlook.
The aftermarket continues to be healthy, driven mainly by traffic growth and older fleets continuing to fly. These factors are shoring up the overall commercial aerospace market, with both North America and Asia Pacific driving global demand. EALA is continuing to pick up speed and starting to once again help drive global growth vs. dragging global growth down.
Implications: Steady on course
Orders have picked up and we see overall production rates and in-service demand continue to stress the supply chain.
Combining sophisticated econometric modeling methodologies to drive quantitative quarterly forecasts on the health of the commercial aviation market, together with insights from leading industry executives worldwide, the “Accenture Commercial Aerospace Insight Report” provides a unique perspective on short- and medium-term trends and drivers in this market. Instead of focusing solely on OEM sales, the report covers a wide range of activities, from suppliers to MRO.
Find out more in the full report.