Page 36 - MetalForming January/February 2022

2040 for more than 43,500 new air- planes valued at $7.2 trillion.
• The global commercial fleet will surpass 49,000 airplanes by 2040. China, Europe, North America and other Asia-Pacific countries each account for about 20 percent of new airplane deliveries, with the remaining 20 percent going to other emerging markets.
• The global freighter fleet in 2040 will measure 70-percent larger than the pre-pandemic fleet due to sus- tained demand tied to expanding e- commerce and air freight's speed and reliability.
For its part, Bombardier reports an uptick in orders, and recently announced a firm order for 20 Challenger 3500 busi- ness jets to an unidentified customer, marking the company’s largest busi- ness-jet transaction of 2021, representing a value of $534 million. The new Chal- lenger 3500 is expected to enter service in the second half of 2022.
Overall for commercial air, industry backlog remains healthy at more than $600 billion and nearly 12,000 units, according to PwC, which totals more than seven years’ worth of production at 2019’s record production level.
Shipments of non-military, non- commercial-fleet aircraft picked up overall in 2021 as compared to 2020, according to General Aviation Manu- facturers Association’s (GAMA) 3Q 2021
Aircraft Shipments and Billings Report, the most recent available. Through the third quarter of 2021, when compared to the same period in 2020, piston air- plane deliveries decreased by six units to 895 airplanes; turboprop airplane deliveries increased 40.6 percent to 357 units; and business jet deliveries increased 15.9 percent to 438 units. The value of airplane deliveries through the third quarter of 2021, according to GAMA, totaled $13.4 billion, an increase of approximately 13.0 percent. Expect improvement to continue in post-pandemic in 2022 and beyond.
The military aircraft market, valued in 2020 at 93.2 billion, is projected by Reportlinker.com to grow at a CAGR of 4.5 percent through 2026 to total $120.2 billion. Pandemic-related issues have resulted in market-wide delivery delays in 2020 and 2021, and will con- tinue into 2022.
The 3D printing segment of the global aerospace market, pegged at $1.9 billion in 2021, is expected to grow at a CAGR of 19.4 percent through 2026 to total $4.7 billion, according to Mar- ketsandMarkets.
Electronics
In 2022, the U.S. electronics industry is expected to grow by approximately 5 percent year-on-year, according to a report from Statista, continuing its recovery from 2019 when the market
fell by 2 percent, but expe- rienced a 4-percent gain in 2020.
“The COVID-19 pan- demic forced people around the world to work, learn and spend their free time at home, driving the demand for consumer electronics,” the report says. “However, due to the global shortage of chips and disruptions to supply chains, many elec- tronics products continue to be in short supply... As problems related to COVID- 19 increasingly are being addressed, the industry is expected to experience a
period of growth in 2021 and 2022.” Among the products included in its analysis: aerospace products; lamps and light fixtures including light-emit- ting diodes; consumer electronics such as televisions and household appli- ances; and automotive electronic com- ponents such as on-board diagnostics, in-car touch screens, cameras and nav-
igation systems.
Certainly, the global shortage of
semiconductors and other components continues to have serious conse- quences, leading to rising costs and higher prices. In a recent survey con- ducted by IPC, the global electronics- manufacturing trade association, com- panies continue to struggle to find qualified talent, with only 15 percent of respondents indicating that the sit- uation is improving.
“Even as sales expectations for elec- tronics manufacturers have improved, they face increases to both material and labor costs, leading to declining inventories and increasing backlogs around the globe,” says John Mitchell, IPC president and CEO. “The longer the shortage crisis continues unre- solved, the more difficult it will be to overcome these compounding prob- lems and return to normal.”
IPC surveyed hundreds of compa- nies representing the electronics- manufacturing value chain. Respon- dents were from North America (44
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