Boeing projects a demand for 36,770 new planes over the next 20 years, an increase of 4.2 percent from last year’s forecast. The company released its annual Current Market Outlook, estimating the total value of those new planes at US$5.2 trillion.
“This market is strong and resilient,” Randy Tinseth, Vice President of Marketing, Boeing Commercial Airplanes, said. “With new and more efficient planes entering service, the growth in air travel is being driven by customers who want to fly where they want, when they want.”
Boeing expects that the freighter fleet, which is now at 1,690, will grow to 2,730. Fuelling this year’s forecast is the single-aisle market, which is projected to be the fastest growing segment due to the continued emergence of low-cost carriers. 25,680 new planes will be needed in this segment, making up 70 percent of the total units in Boeing’s forecast. Boeing forecasts that 8,600 new planes will be needed in the twin-aisle segment, led by small wide-body aircraft such as the 787-8 and 787-9 Dreamliner. This year’s forecast reflects a continued shift in demand from large planes to new twin-engine products such as the 787-10 and new 777X.
The Asia-Pacific market, including China, will continue to lead the way in deliveries over the next two decades.