#3 Aerospace Manufacturing and Design’s Best of 2021: 2021 Forecast

Recovery in commercial aircraft demand depends on controlling the coronavirus pandemic. Discretionary air travel drives most transport aircraft needs, and until people feel confident in traveling and governments allow it, the commercial aerospace supply chain must focus on survival. Despite federal plans to boost COVID-19 vaccination production, President Joe Biden says it will take until late summer to treat most Americans, leaving the possibility of some resumption of air travel demand later this year. Domestic air travel will lead the way, as demonstrated in Asia-Pacific nations and in the U.S. in late 2020.

Air cargo traffic volumes were down 12% through Q3 2020, due to fewer planes flying. However, Boeing analysts reported yields were up more than 40% and overall air cargo industry revenues were up more than 15%.

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