The aerospace industry has faced the most acute shock in its history, as COVID-19 spread across the world, the industry lost over $118 billion in 2020 and saw dozens of airlines seek bankruptcy protection or stop flying entirely.

There is more work to do in order to get through to full recovery, as our current forecasts show, the recovery is indeed happening, and commercial aircraft activity is poised to return. Yet, it is now time to design a resilient next chapter for aerospace in a post-pandemic world.