Continued from pg 11
Industry Forecast Business Jet growth was relatively
flat with an estimated 557 airframes being delivered in 2023 and is expected to pick up in 2024. Other airframe deliveries include 683 Regional Jets, 71 Light Turbofan Jets, 1,155 Turboprop airframes and 769 airframes powered by piston engines.
When considering airframe
production for all classes, 2024 deliveries should total 4,800, a 7% increase over the 2023 estimate of 4,485. Of these, 1,539 Large Commercial Airframes, 581 Business Jets, 709 Regionals and 81 Light Turbofan Airframes are currently on order.
The vast majority of the airframes in
current production have two engines, with only a few models powered by three or four engines.
As a result, the
growth rate for engines differs from that of airframes. Large Commercial Airliner Engine production in 2023 grew by 24% and current demand can support 23% growth in 2024. This rate tapers off in the later years, putting the CAGR for the forecast period at a very healthy 17%. The 3-year CAGR for Narrow Body Engines is currently estimated at 17.9% and that of Wide Body Engines is 12.8%, with Narrow-Body engines outnumbering wide body engines 5:1.
Military Aerospace Military demand continues to be robust with 292 airframes being produced in 2023, sporting 452 engines. Looking to 2024, the demand for tactical fighters will lead the anticipated 10% growth for airframes and 8% YoY growth for engines.
Aerospace Summary North American 2023 investment casting sales serving the Commercial Aerospace sector reflected 26% growth over 2022
12 ❘ January 2024 ®
North American Report
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