a resurgence in air travel and the need for new aircraft to meet growing demand should benefit boeing into the new year according to goldman sachs analyst noah poponak named the aircraft maker and defense contractor a top pick in the aerospace industry heading into 2023 saying in a note to clients wednesday that boeing will see expanded order books as air traffic rebounds we see substantial cyclical and longterm secular upside at boeing and much of its supply chain poponak wrote aerospace aftermarket is one of the best businesses in industrials business jet has tailwinds and has structurally changed for the better against this backdrop large commercial aircraft demand should remain strong as new orders hover near record levels supply constraints persist but those issues could bode well for some makers by creating a tight supplydemand balance that supports longterm growth in production rates he wrote boeing should also benefit from normalization in free cash flows within the 20ashare range by the middle of the decade according to poponak cash flow has inflected to positive will accelerate over the coming years and boeing has taken an equity raise and nearterm new aircraft development off the table which will drive rapid delevering he said compared to the broader market boeing shares are down just 7 year to date goldman sachs 242 price target suggests another 29 rally in store from tuesdays close cnbcs michael bloom contributed reporting