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But the industry is really challenging itself, and we estimate that while there will be about 1,100 new aircraft flying off the production line this year, orders themselves will be above that, pushing backlog to another new record. Furthermore, we anticipate that full year order will be about 1,600, pushing overall backlog to nearly 9,000 aircraft.
Globalization of the industry is a trend, we think, that’s going to carry on for a while. The industry will continue to move from one based on exports to having more content sourced globally. Having said that, the overall growth in the industry means firms like Airbus and their European suppliers will continue to grow as well. There could also be growth in Central and Eastern Europe , as many of those countries, like Poland and Ukraine, have good aerospace capability fostered by the former Soviet Union, and very competitive labor markets.
Technology and investment in research and development capabilities will also be a talking point along with the impact that the European financial debacle is having on industry. It would be a rose-tinted observation if we were to consider in isolation high production figures, without thinking of the implications this is having on our European airlines that fall into the "squeezed middle".
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