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Industry Forecast


Europe


Figure 6: 2020 Boeing vs. Airbus - Orders & Deliveries Through 30 Nov 2020 Continued from pg 17


year as in addition of the pandemic crisis, Boeing has been experimenting the effects of the grounded 737 MAX project which has also led to cancellation of orders and delays of the planned deliveries. On November 18, the FAA ungrounded the 737 MAX and on December 8, Boeing delivered the first 737 MAX in almost two years, to United Airlines. However, the 737 MAX remains grounded in Europe. The European Union Aviation Safety Agency (EASA) expects to lift its grounding this current month of January. With these additional constraints Commercial Aircraft


deliveries have been significant less for Boeing than Airbus but the backlog remains strong with about 6 to 9 years of deliveries at the 2018 deliveries rate. At the end of November, Airbus backlog indicates 7,302


jets, of which 88 %, were narrow bodies, whilst Boeing backlog indicates 5,053 jets, of which 81 % were narrow bodies. This concentration of the demand into the narrow body segment might represent a better opportunity for those IC companies present into that supply chain as the recovery for this segment


18 ❘ January 2021 ®


might be expected shorter than for the wide body segment. With these strong backlogs, the outlook provides a


positive prospective, however still unclear as the effect of normalization in social interaction and traveling is yet unknown. OEM market is driven by new engine platforms; these platforms contain higher value castings, and some also contain more castings. Growth in MRO will largely be driven in the short term by platforms such as the Trent XWB and Genx as they approach to the firsts overhaul.


Industrial Gas Turbine This Market segment is driven by Powered Electrical generation applications. The EU power market has made a significant shift away from coal generation. Share of gas-fired power generation in Europe grew from15.5% in 2015 to 20.8% in 2018. This switch from coal to gas is one of the major factors that was expected to propel the European gas turbine market. However, sales of industrial gas turbines have fallen since last quarter of 2017, under pressure from low-cost renewable


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