So our call on the Hydraulics market really has not changed materially from the way we originally saw the year. In Aerospace, we’re seeing low single-digit growth in commercial OE and in commercial aftermarket, offset by, as I mentioned earlier, some pretty significant declines in the Biz Jet segment, which really took orders down in Q2. Some small declines in US Defense, OEM and some modest growth in Defense aftermarket. In Vehicle, as we noted, now after Class 8, we think 230,000 units this year, down some 29%, and we continue to see weakness in the Brazilian truck and bus market. We think down 20% for the year, offset by low single-digit growth and now after Class 6 production into modest growth as I mentioned in the light vehicle markets around the world. If we turn our attention to restructuring, really good news here. Restructuring programs remain on track. Q2 spending came in right at plan at $35 million, and our projects are clearly on track, and we have a great line of sight to delivering the benefits that we laid out. We did increase our second half spending by $5 million, primarily in Electrical Systems & Service to deal with some of the continued weakness that we’re seeing in our markets, particularly oil & gas and industrial markets. We expect to spend $27 million in Q3 and another $20 million in Q4, increasing our total spending for the year to $145 million, but we’ve also increased our annual benefits by $5 billion, and so really no net change in benefits for the year.
For the original version including any supplementary images or video, visit Edited Transcript of ETN earnings conference call or presentation 2-Aug-16 2:00pm GMT
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