Industry Forecast Continued from pg 13
Manufacturers produced 82% of the turbines manufactured in 2023. North American turbines used in military applications account for 77% of global production. This is followed by Mechanical Drive applications at 67%, Power Generation at 56% and Microturbines at 49%.
Global production declined by 7.5%
to 1,407 units in 2023. Current orders show 4.2% growth in 2024 to 1,466. Medium to Large Land-based Power Turbine production increased globally by 3% to 407 units. Microturbines were flat at 742 units, and declines of 23% in Mechanical Drive applications and 55% in Military applications were realized globally, resulting in the production of 206 and 52 turbine respectively.
In 2024, Global production is
expected to grow by nearly 5% to 1,466 with Military production increasing by 37% to 71 turbines and land-based Power Generation turbine production growing by 7% to 435 turbines. Mechanical Drive unit production should hit 215 units for 4% growth, and microturbines are expected to remain relatively flat with less than a half a percent growth to 745 units.
Industrial & Marine Gas Turbine Summary In terms of sales performance, current estimates place 2023 North American investment casting sales at $980 million, a 6.5% decline from the prior year. With better than 7% anticipated growth, the forecast for 2024 places sales marginally above the one-billion-dollar mark for the first time since 2008.
Automotive Folks, now we come to the “good news- bad news” part of the report. Let’s start with the good news…
14 ❘ January 2024 ®
North American Report
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44
