Tag: growth

Strong Growth Ahead for Business Aviation Per Honeywell Forecast

Flying Magazine reports, this week the annual Honeywell Global Business Aviation Outlook was released, “predicting strong and stable growth in the industry for the next five years. The forecast also predicts demand for 8,500 new business aircraft worth $280 billion during that period, up a little from earlier forecasts and prompting some manufacturers to ramp up production. At the same time, customer demand has leveled off, suggesting a more balanced market is taking hold, according to the survey.”
Full Story (Flying Magazine)

TD Cowen Says Aviation Aftermarket Ready for Boost

Aviation Week reports that a new TD Cowen analysis projects rising air travel demand to “significantly outpace new capacity created by aircraft deliveries for the next several years, setting many commercial aftermarket providers up for an extended run of strong growth.” Several factors “are working together to drive already strong aftermarket demand even higher,” with the chief among them being steadily rising global traffic. Markets such as the US are exceeding 2019 available seat mile figures, but other markets including Europe and Asia are still working toward a full recovery.
Full Story (Aviation Week)

Commercial Space Industry Projected to Experience 41% Growth Over Next Five Years

Fortune reports that the global space economy “grew 8% to $546 billion in 2022 and is projected to climb another 41% over the next five years, according to a leading space nonprofit.” The sector is expected “to show resiliency in the coming years, despite uncertainty about the global economy and a recent slowdown in space investment.” Companies are seeing “continued revenue growth from commercial space assets and governments around the world boosting expenditures, according to a report from the Space Foundation, a Colorado Springs, Colorado-based space flight advocacy group.” The analysis “considered spending from 51 governments, as well as commercial revenue from companies in 11 space industry sub-sectors.” Space Foundation Director of Research and Digital Programming Lesley Conn said, “Commercial space is the vital growing sector of the overall space economy. Within five years, certainly you’re going to see a real acceleration and an expansion of space and space assets.”
Full Story (Fortune)

Space Economy Grows Despite Pandemic

Space News reports that the overall space economy “expanded 4.4 percent to $447 billion in 2020 with more nations participating than ever before, according to the Space Foundation’s updated Space Report.” Global government spending on space programs declined slightly in 2020 by 1.2 percent. The report also shows an increase in space launch activity. During the first six months of 2021, “there were 61 successful space launches, compared with 45 for the first six months of 2020 and 41 in 2019.”
Full Story (Space News)