Domestic and international flying hours will continue to hit record highs, bolstering already high demand for new aircraft and aftermarket services, except perhaps in APAC. Boeing ramps up 737 MAX production and deliveries, while Airbus increases production of its A320 models. Defense demand will remain elevated for some time as the Trump administration shakes up the status quo and many governments, especially in Europe, realize that 20-30 years of peacetime and underinvestment has left their armed forces too small and antiquated.