Boeing Raises 20-Year Passenger Jet Market Forecast to $5.2 Trillion
Main Driver to be Smaller, More Fuel Efficient Planes
Boeing says that the current high demand for new planes will not only continue but will also increase.
The Chicago-based aircraft manufacturer released an updated forecast for growth over the next 20 years on Thursday, predicting that the market for new aircraft will reach nearly 37,000 planes with a total value of $5.2 trillion. This is a 4.2% increase over last year’s forecast. The Asia-Pacific market, said Boeing, will continue to lead in total airplane deliveries.
The main driver will be smaller, single-aisle passenger jets, which is says will be the fastest growing and “most dynamic” segment, largely due to the continued emergence of low-cost carriers. Boeing says that 25,680 new airplanes will be required in this segment, 70% of the total number of units in the forecast.
Single-aisle aircraft include Boeing’s own 737 planes as well as competitor Airbus’s A320 family of jetliners.
Boeing sees 8,600 new airplanes in the twin-aisle segment, mostly smaller wide-body jetliners in the 200- to 300-seat range, a market currently led by its newer 787-8 and 787-9 Dreamliner jetliners. In the very large airplane segment, Boeing sees a continued shift in demand to more efficient twin-engine products such as its forthcoming 787-10 and new 777x planes, away from less-efficient four-engine aircraft such as its 747-8 and Airbus’ A380.
The market for new aircraft continues to be “strong and resilient,” said Randy Tinseth, Boeing’s vice president of marketing, noting that the demand is being driven by passenger desires to be able to fly “where they want, when they want.”
(Photo: Accura Media Group)