The following infographic examines the projected growth and evolution of the aerospace industry. There have been several notable investments in new airlines (planes) made by major commercial airlines, which could keep production and capital investment aloft should the economy start to veer into the mild recession many have been predicting. That could upend the trend observed in past recessions, where machinery orders from the aerospace sector tended to lag behind the recovery of other customer industries. Note that while electrification and electric vertical take-off and landing aircraft may create new revenue streams and markets for short commuter flights, the overall impact of these developments is likely to be minimal on overall oil consumption for commercial flight, and further advancements in technology and efficiency will be key in cutting down on fossil fuel use.
To read the rest of the Transportation Issue of MT Magazine, click here.