PHOTOGRAPHY: (top to bottom) CORBIS; STEVE PREZANT/CORBIS
Industry Outlook 2005
Leaders
ENERGY Added capacity will stabilize oil prices, but
China remains a wild card
HARDWARE Soaring unit
sales of consumer gizmos
will offset softer prices
AEROSPACE Another
perky year, but leaner times
loom for defense companies
MANUFACTURING Back
to basics--heavy machines,
steel, and chemicals surge
Laggards
DRUGS Growing safety
worries dog an industry that's
short on new products
CHIPS Revenue growth
will stall, but should be less
volatile in the future
TELECOM Voice, video,
and data move to the Net,
shaking up the industry
SOFTWARE Still stuck
in single digits, the market
warms to open source
