forecast anticipated 24% growth. IGT performed better than expected, posting a decline of 6.5% against a forecast decline of 14%. Growth in Automotive exceeded expectations, achieving a 3.3% increase over 2022, against a forecast 2.2% growth.
The largest deviation from the 2022
forecast came in the General Industry sector, which historically is the most difficult to predict due to the diversity of subsectors. Last year, it was anticipated that this sector would realize 10% growth, which has proven to be a very bullish perspective as it only achieved an estimated 1% growth.
In total, North American Investment
Casting Sales rose by 13.6% to $7.1 billion, which represents a new high for the industry.
Aerospace U.S. carrier domestic and international air traffic has returned to pre-pandemic growth rates. In 2023, estimated U.S. Available Seat Miles (ASM) and Revenue Passenger Miles (RPM) reflect Year-on- Year (YoY) growth rates of 4% and 5%, respectively, resulting in a Load Factor of 0.83. Looking forward, RPM is expected to continue to outpace ASM with forecast Compounded Annual Growth Rates (CAGR) of 4.1% and 3.4% over the forecast period. This would put LF at the pre-pandemic level of 0.84 in 2024, and by the end of the forecast period, should reach an all-time high of 0.86.
accepted delivery of approximately 1,250 commercial airliners.
210 were twin aisle wide body aircraft and 1040 were single aisle, narrow body aircraft. This represents a 24.9% YoY increase in delivery performance, largely driven by narrow body growth of 34.5%, which was offset by wide body declines of 7.9%.
Continued on pg 12 January 2024 ❘ 11 ®
In 2023, the world’s airlines Of these,
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