Despite turbulence in the global economy, the aerospace industry continues to grow (AIA1
ref). Following recent increases in defense spending, civil aviation is now expected to show faster growth than the defense market2.From 2008 through 2027, airline passenger traffic is expected to increase by 5% and cargo by 5.8%
annually, with Asia-Pacific leading as the largest single market3
.This growth rate is twice the projected growth for the global economy as a whole4.