Making aerospace safer, more powerful and more efficient
The commercial aerospace market slowed in 2019, achieving 2.5% growth compared to 4.5% in 2018 according to the Accenture Commercial Aerospace Insight Report. The grounding of the Boeing 737 MAX aircraft factored significantly in the slowdown, especially in North America. Latin America had the highest growth rate globally, at 9.9%, with the Middle East following at 6.8% and Europe at 6.1%. Global growth in the commercial aerospace market is expected to be stronger in 2020. According to the Deloitte 2019 Global Aerospace and Defense Industry Outlook Report, the commercial aircraft backlog is currently at 14 000 units, and 38 000 aircraft are expected to be produced globally in the next two decades. With 200 million people entering the middle class in the next decade, passenger travel is expected to continue increasing.