levels, with military sales reflecting 15%. When taking the entire sector into consideration, the industry realized a consolidated 21.8% growth over the prior year, putting the 2023 estimate for revenue from this sector at $4.8 billion.
The outlook for 2024 reflects an
overall YoY growth rate of 24.4%, comprised of 23.4% growth in the commercial sector and 26.2% growth for military applications. This puts the 2024 consolidated estimate for the investment casting sales for this sector at $5.7 billion.
Industrial & Marine Gas Turbines In 2023, North American Manufacturers produced an estimated 772 Industrial & Marine Gas Turbines, representing an 8% decline from 2022 levels. Medium to Large Land-based Power realized 9% growth over last year’s 208 deliveries, finishing the year at 227 turbines. The outlook for 2024 puts production at 239 turbines or 5% growth.
All other gas turbine
experienced decline from last year’s levels. Mechanical Drive
turbines. Military Gas
families Turbines,
which include both land-based and marine applications, finished the year at 138 units, 17% down from 2022’s 166
Turbine
production declined by 32% in 2023 to 40 units, but is expected to resume growth in 2024.
Microturbines have been in
moderate decline since 2021. In 2023, 367 Microturbines were produced in North America, representing a 9% decline from 2022 levels. Next year’s production will remain relatively flat.
When compared to Global I&M
Turbine Production, North American Continued on pg 14
January 2024 ❘ 13 ®
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