Aerospace
Source: Airbus, Boeing
Airbus overtook Boeing on aircraft deliveries in 2022 by 38%, despite falling short of its 700 planes target , which it gave up as unrealistic before the year end. The European aircraft manufacturer delivered a net of 661 commercial jets to customers in 2022, ahead of 480 commercial jets delivered by its US rival. Both plane makers picked up the pace at the year-end, with Airbus rushing to deliver 96 aircraft in December.
Demand for widebody aircraft picked up for both manufacturers. Mid-year, after resolving component issues, Boeing was able to resume deliveries of the 787 Dreamliner jet, and booked 114 orders for it during the year. However, new single-aisle jets continue to dictate the aircraft market. For Airbus, A321 deliveries have now overtaken it former bestseller, the A320. These models by far outpace anything else Airbus produces.
Boeing is still reeling from the fallout of fatal 737 MAX crashes in recent years, as it seeks to rebuild confidence in the aircraft. It secured 561 orders for the model in 2021, down from 749 the previous year. However it is determined to stabilise production of the aircraft, and has just announced a new 737 MAX production line in Everett, Seattle, which will be added in 2024 to replace discontinued 787 and 747 production lines at the site. Boeing also reported success with the launch of its new 777-8 Freighter based on its iconic jumbo. During 2022 it secured 50 orders for what is now the world’s largest twin-engine cargo jet.
The latest passenger data from IATA, for November 2022, shows air traffic recovering to about three-quarters of their pre-pandemic level in November 2019. Total passenger traffic in November rose by 41.3% y-o-y, with an 85,2% y-o-y increase in international flights.
Automotive
Source: CAAM
Vehicle production in the leading automotive region, China, grew by .3.4% in 2022, with an 11.2% increase in output of passenger cars offsetting a steep almost 32% decline in the manufacture of commercial vehicles. Altogether, China produced just over 27million vehicles in 2022., according to China Association of Automobile Manufacturers (CAAM).
This included 7.05m new energy vehicles including both pure battery electric and hybrid , accounting for over a quarter (26%) of total car output. A 52% y-o-y increase was driven by production of battery electric vehicles (BEV), with a smaller share – but faster growth — in petrol-hybrid (PHEV) cars.
Chinese vehicle sales were just shy of 27m, up 2.1% y-o-y. More than one in four cars sold was either BEV or PHEV.
Demand was led by China itself, with only 11.5% of the vehicles sold exported.. More than one in five (22%) of the Chinese-made cars headed for the export market were BEVs or PHEVs.
The European passenger car market has grown for the past five months, with a 12.8% growth in the EU (14.8% in EU+EFTA+UK) in December. But a shortage of components in the first half 2022,led to an overall y-o-y fall in new car sales of 4.6% in the EU and 4.1% across the EU+EFTA+UK to 1.9m cars.
The UK, remained one of the largest European markets in 2022, just ahead of France, but UK new vehicle registrations fell 2% y-o-y. The UK is largely an export manufacturer with eight in 10 of UK-made cars shipped overseas. And its post-Brexit manufacturing woes were exacerbated by component shortage. UK car output fell by 9,8% to just 775,014 vehicles last year, according to the Society of Motor Manufacturers and Traders (SMMT), a level not seen since the mid-1950s. But this retro vibe masks a very modern energy revolution: almost one in three British built cars are now either battery electric or hybrid.
