MT Magazine July/August 2023

JULY/AUGUST 2023

19

Short-haul air transport electrification will not reduce oil demand by much. Most oil consumption comes from long-haul flights. AIRLINES CAN’T ZAP AWAY FROM OIL LIKE THE AUTOMOTIVE SECTOR

Forecast for World Energy Demand for Air Transport

Electricity

0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 0.10

Oil

Million Tonnes of Oil Equivalent

2022 Q1

2032 Q1

2028 Q1

2038 Q1

2024 Q1

2026 Q1

2036 Q1

2042 Q1

2034 Q1

2048 Q1

2030 Q1

2046 Q1

2050 Q1

2044 Q1

2040 Q1

Source: Oxford Economics

The aerospace industry’s link to oil prices will require ongoing modernization. Investments in increased efficiency and new technology may offer more resiliency in the aerospace industry for upcoming recessions.

-Body Planes d to United’s fleet. o have more than 700 eir fleet by 2033.

New Aircraft American Airlines plans to take delivery of 19 new narrow-body and 4 wide-body planes in 2023.

A339’s & A350’s Delta is close to buying new Airbus A330 and A350 airplanes.