Aircraft manufacturer Boeing has raised its forecast for new airplane demand, projecting the need for 41,030 new airplanes over the next 20 years valued at US$6.1 trillion dollars.
The company’s annual Current Market Outlook (CMO) was released June 20 at the Paris Air Show, with total airplane demand rising 3.6% over last year’s forecast.
“Passenger traffic has been very strong so far this year, and we expect to see it grow 4.7 percent each year over the next two decades,” said Randy Tinseth, vice president of marketing, Boeing Commercial Airplanes. “The market is especially hungry for single-aisle airplanes as more people start traveling by air.”
The single-aisle segment will see the most growth over the forecast, fueled by low-cost carriers and emerging markets. About 29,530 new airplanes will be needed in this segment, an increase of almost 5% over last year.
The forecast for the widebody segment includes 9,130 airplanes, with a large wave of potential replacement demand beginning early in the next decade. With more airlines shifting to small and medium/large widebody airplanes like the 787 and 777X, the primary demand for very large airplanes going forward will be in the cargo market.
Boeing projects the need for 920 new widebody freighters over the forecast period.
The Asia market, including China, will continue to lead the way in total airplane deliveries over the next two decades, with 16,050 projected deliveries to the region for the period 2017-2036.
Worldwide, 57% of the new deliveries will be for airline growth, while 43% will be for replacement of older airplanes with new, more fuel-efficient jets.
Boeing’s CMO is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry.
Photo courtesy of Boeing
