“In Aerospace Technologies, we expect that robust demand will remain throughout 2024 as our record level backlog provides a catalyst for growth.”

In context

“rgy and sustainability solutions. For aerospace, volume leverage will cover continued investment in our innovation platforms and in the supply-chain to unlock volume. Keeping our margin rate within a tight band of our recent levels, while enabling us to deliver robust year-over-year profit growth. For the first-quarter, we expect overall segment margin in the range of 21.9% to 22.2%, down 10 basis points to up 20 basis points year-over-year. Importantly, our guidance for both the first quarter and the full-year for 2024 does not consider the planned acquisition of Carrier's Global Access Solutions business. We anticipate the closing of the deal by the end-of-the third quarter, and we'll update our guidance accordingly at that time. Now let's spend a few minutes on our outlook by business. In Aerospace Technologies, we expect that robust demand will remain throughout 2024 as our record level backlog provides a catalyst for growth. In commercial original equipment build rates continue to trend upwards, driving increase in chipset deliveries, primarily in air transport. On the commercial aftermarket side, we expect to see volume strength as flight hours continue to improve, particularly in wide-body as international travel normalizes further. In defense and space, supplies -- supply-chain constraints not demand will be the limiting factor on volume growth. However, our output growth of 18% in 2023 across Aero gives us confidence in our ability to execute and we anticipate modest sequential improvement throughout the year. For overall Aerospace, we expect organic growth in the low-double-digit range in 2024. While we again expect Aero to be our fastest top-line grower, margins will likely remain at comparable levels t”