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Boeing Raises Forecast for New Airplane Demand
LE BOURGET, France, June 20, 2017 /PRNewswire/ -- Boeing has raised its forecast for new airplane demand, projecting the need for 41,030 new airplanes over the next 20 years valued at $6.1 trillion.
The company's annual Current Market Outlook (CMO) was released today at the Paris Air Show, with total airplane demand rising 3.6 percent 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. 29,530 new airplanes will be needed in this segment, an increase of almost 5 percent 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 production widebody freighters over the forecast period.
New Airplane Deliveries through 2036 by size
Airplane type
Seats
Total deliveries
Market value
Regional jets
90 and below
2,370
$110 billion
Single-aisle
90 – 230
29,530
$3,180 billion
Small widebody
200 – 300
5,050
$1,340 billion
Medium/Large widebody
300 and above
3,160
$1,160 billion
Freighter widebody
---------
920
$260 billion
Total
---------
41,030
$6.1 trillion
The Asia market, including China, will continue to lead the way in total airplane deliveries over the next two decades. Worldwide, 57 percent of the new deliveries will be for airline growth, while 43 percent will be for replacement of older airplanes with new, more fuel efficient jets.
New Airplane Deliveries through 2036 by region
Region
Airplane deliveries
Asia
16,050
North America
8,640
Europe
7,530
Middle East
3,350
Latin America
3,010
C.I.S.
1,230
Africa
1,220
Total
41,030
Boeing's Current Market Outlook is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry. The full report can be found at www.boeing.com/cmo.