Source: Reuters

Taiwanese major chip supplier, TSMC forecasted an annual revenue growth of 10% in the global semiconductor industry, excluding memory chips.

“This is a new golden age of opportunity with AI,” said senior vice-president Cliff Hou, who was speaking at an event in Hsinchu, where the company is headquartered.

In April, TSMC lowered its outlook for the global semiconductor industry excluding memory to a growth rate of around 10% from a previous forecast of more than 10%. World Semiconductor Trade Statistics has forecast growth of 13.1% for the global semiconductor market in 2024.

TSMC has estimated second-quarter sales may rise as much as 30% as it rides a wave of demand for semiconductors used in artificial intelligence applications (AI). Nvidia forecasted its quarterly revenue above estimates and announced a stock split, lifting shares to a record-high territory and impressing investors who have tripled the chipmaker’s market value in the past year on AI optimism.

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LONDON, (Reuters) – Boeing projects airlines worldwide will need 41,170 new airplanes over 20 years with half of the deliveries for replacement aircraft, and with single-aisle aircraft accounting for about 75 percent of planes.

Boeing’s new market outlook, released on ahead of the Farnborough Airshow, is down from its previous rolling 20-year-forecast of 43,610 deliveries.

The new estimate excludes the Russian market and its projection of 1,540 airplanes, because of the war in Ukraine and uncertainty about when manufacturers could again sell planes to Russian carriers.

Boeing slightly boosted its forecast for demand over the next 10 years to 19,575 airplane deliveries — a higher projection even excluding the Russian market.

“That’s a function of a depressed environment in 2021 falling off and a new trend year in 2031 being added,” Darren Hulst, Boeing vice president for commercial marketing, told reporters in a briefing ahead of the Sunday release. “It comes very close to our 2019” outlook if Russia was included.

Boeing also dropped its industrywide passenger traffic forecast growth rate slightly to 3.8 percent from 4 percent, but boosted its cargo growth forecast to 4.1 percent from 4 percent last year. It cut its fleet growth forecast to 2.8 percent from 3.1 percent. Its forecast for widebody deliveries over 20 years fell from 7,670 to 7,230.

Boeing still projects the global airline fleet by 2041 will nearly double as it still sees a worldwide aviation demand COVID-19 recovery by early 2024.

Over the next 20 years Boeing said “long-term fundamentals remain intact.”

“Our view of medium-term recovery — when the industry gets back to 2019 levels of global airline traffic — is largely unchanged” since 2020, Hulst said. “Overall, we still see late 2023, early 2024 as the time where the industry recovers to full or at least the level of pre-pandemic traffic.”

Boeing sees strong near-term demand for aircraft despite recession risks.

“The global industry is still on a recovery trajectory back to where the normal relationship of GDP and traffic would be,” Hulst said. “Any small blip from an economy standpoint would be probably overwhelmed by the demand that exists as a result of those normal economic relationships.”

Boeing also projects the freighter fleet will grow 80% by 2041. Air cargo is performing at “historic levels,” Hulst said, saying it is in part “a function of the increasing strategic value of air cargo relative to supply chains that are challenged and shipping that is challenged.”

Boeing sees e-commerce networks as helping to drive a “strategic shift to air cargo even into the medium- and long-term. … This isn’t just a blip in terms of shipping versus air.”

Hulst said the number of routes with more than one airline operating has more than doubled over the last two decades — representing 70 percent of all capacity. It demonstrates “the continuous innovation that airlines need to have to continue to compete at lower costs to attract more and more traffic.”

Air cargo still only accounts for 1 percent of global trade. “A small shift in terms of mode of transportation, of key elements of trade, makes a big impact in terms of demand for air cargo,” Hulst said.

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In general, industrial machine vision systems are more robust and demand high reliability, stability, and accuracy as compared to those used in institutional or educational applications and they are relatively cheaper than systems used in military, aerospace, defense and government applications. Thus, there is a greater uptake from industrial sectors when it comes to the adoption of machine vision systems and this has led to market growth for the machine vision industry.

Furthermore, as machine vision systems gain traction in medical and healthcare applications, growth can be seen to increase. This is because, analysis of medical images and robotic applications for carrying various medical activities are key roles of the technology in these sectors.

However, it is the automotive industry that contributed to the largest market share for machine vision in 2017, due to the vital role that the system plays in quality inspection processes.

Overall, Asia Pacific accounted for the biggest market share in 2017 and is expected to have the highest growth rate during the forecast period. This can be attributed to the growth of manufacturing in the region and countries such as China, Japan, South Korea, and India are considered to be potential markets for upcoming technologies, including machine vision. To add to this, factors such as a growing interest in research and development and the expanding manufacturing base in the region are expected to spur the market in Asia Pacific.

However, restraining factors for market growth include a lack of user awareness on machine vision systems and the general complexity that the system entails in integration and usage.

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