The Sky is Still Gray For The Aerospace SectorBy Alessa Flores | Thu, 04/16/2020 - 19:41
In uncertain times it is inevitable to think about the future, which is why the Market Robotics Aerospace Guide has been published by Market.biz with trends and projections for the near future. The report includes projections for 2020-2028 where the market, its size and its dynamics are discussed. In general, the report highlights that the impacts of COVID-19 are estimated to be much greater than those of the SARS virus in 2003. The COVID-19 pandemic has positioned itself as one of the greatest threats in the aerospace sector.
Now let’s jump into the Week in Aerospace!
The overall pessimistic environment has led OEMs to drastically adjust their manufacturing capabilities. Airbus cut down production of its A320 from 60 to 40 jets per month and of its A350 from 10 to six. In addition, cancellations of aircraft orders and a reduction of new orders are not the only problems affecting manufacturers. Governments seeking to halt the spread of COVID-19 are also placing restrictions on the manufacture of non-essential goods.
Potential outcomes for the aviation industry continue to worsen due to the COVID-19 crisis. The International Association of Air Transport (IATA) updated its 2020 forecast for a second time in six weeks, warning that the sector was set to lose US$312 billion amid the crisis. Moreover, the association has closely tracked the effect of the outbreak in the aviation industry as the spread of policies to contain the virus led many to avoid travel for work and leisure, leading airlines to cancel most of their flights and turning airports into airplane parking grounds.
Mexican Airlines Might Lose US$5 billion: IATA
Efforts to contain the spread of the virus have dramatically hurt the tourism and travel industries. As a growing number of individuals, both in Mexico and abroad, choose to stay home, air travel has shrunk to levels not seen in many years. This situation is leading local airlines to cancel most of their flights, with local representatives of the industry warning that some airlines were operating at only 20 percent capacity and Mexico’s Federal Civil Aviation Industry (AFAC).
Russia Tests Missile System to Take Down Satellites
Today, Russia has carried out another test of its missile system designed to destroy a satellite in orbit around the Earth, according to the US Space Command. It is believed to be the 10th test of this anti-satellite, or ASAT technology, although it is not clear if the missile actually destroyed anything in space.