Boeing predicts aerospace marketClick image to enlarge

Boeing has released its forecast for the commercial, defence and space aerospace market over the next decade.

The “2021 Boeing Market Outlook” (BMO), Boeing's analysis of long-term market dynamics, finds that commercial airplanes and services are showing signs of recovery, while the global defence, space and government services markets have remained stable.

The BMO projects a US$9 trillion market over the next decade for the kinds of aerospace products and services that Boeing provides. That’s up from the US$8.5 trillion forecast issued this time last year, and also up from the US$8.7 trillion figure issued in the pre-pandemic 2019 forecast. This trend reflects the market's continued recovery, Boeing says.

"As our industry recovers and continues to adapt to meet new global needs, we remain confident in long-term growth for aerospace," said Boeing chief strategy officer Marc Allen. "We are encouraged by the fact that scientists have delivered vaccines more rapidly than imaginable and that passengers are demonstrating strong confidence in airplane travel."

Read the full Boeing announcement.

Rest of decade looking good for automotive tooling spend

Canadian and US tool shops serving the automotive market should expect a bright future, albeit with a few challenges, according to market research conducted by Harbour Results Inc.

Elliott Matsuura to sell Excetek EDMs in Canada

Elliott Matsuura Canada Inc. has signed a distribution agreement with Excetek Technologies Co. Ltd., to suppy sinker, drill and large wire EDM machines in Canada.

Bystronic Canada appoints new direct sales engineer

Bystronic Canada has appointed David Golls as direct sales engineer for Alberta and British Columbia.

BEVs present too many opportunities to ignore

If you’re not already in the battery electric vehicle (BEV) market, you need to consider it; the potential increase in tooling demand is too great to ignore and so too are the risks.

Salvagnini celebrates 40th anniversary of its panel bender

Salvagnini is celeberating the 40th anniversary of its panel bender, the P4.

5 axis machining networking event

EMEC Machine Tools and Krueger Machining is hosting an advanced five axis machining networking event in Tecumseh, ON, in the Windsor area on July 10th.

Mazak adds new Western Canadian distributor

Mazak Corp. has added a new Western Canadian distributor and gone direct in BC as part of a new strategic business move.

Lockheed Martin Canada opens doors to innovation centre

Lockheed Martin Canada has opened the doors to its IMPACT Centre in Ottawa, an innovative demonstration centre that aims to bring industry and academia together for critical research, development and advancement of technology.

Welding camp for kids

There might have been some apprehension when the summer camp students first walked into the welding shop in St. Joseph High School in Edmonton, Alberta, but in short order, excitement soon took over and their attention was completely focused on all the arcs and sparks, while their imaginations ran wild with all of the possibilities of turning metal into something cool.

Canadians confident in post-pandemic bounce-back: survey

COVID-19 has not dented Canadians' outlook about the future or their confidence in their ability to bounce back quickly after hard times, even as the pandemic's effects on employment started to pile up, according to the results of a recent survey.

Largest naval ship built in Canada in 20 years

Meet the Asterix, the first large naval ship to be built in Canada in more than 20 years. The new ship, built by Davie Shipbuilding, made its debut on July 20, 2017.

Ontario high school gets Hypertherm education grant

On Ontario high school was one of several educational institutions in North America to be selected for Hypertherm's Spark Something Great educational grant.

Prima Additive and Materialise ramp up AM collaboration

Additive manufacturing systems manufacturer Prima Additive and 3D printing specialist Materialise have announced they are stepping up their collaboration in optimizing metal additive manufacturing systems.

Global growth spurt forecast for metal machining sector

UK-based research firm Technavio forecasts the global metal machining market is poised to grow by US$14.76 billion during 2020-2024 at a compounded annual growth rate (CAGR) of almost four per cent during that period.

CMTS 2019 keynotes to address IP, labour challenges

Former Research In Motion chair Jim Balsillie and former Québec premier Jean Charest will highlight some of the most challenging issues facing Canadian manufacturers in their keynote addresses at the upcoming Canadian Manufacturing Technology Show (CMTS) 2019.

Stay In Touch

twitter facebook linkedIn