Airbus, Boeing Raise 20-Year Market Forecast for Passenger Jets

New high-tech aircraft such as the Boeing Dreamliner and Airbus A350 are in high demand

New high-tech aircraft such as the Boeing Dreamliner and Airbus A350 are in high demand

By Paul Riegler on 11 July 2016
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Airbus and Boeing, the world’s two largest airplane manufacturers, both raised their forecasts for aircraft deliveries over the next two decades on Monday at the Farnborough International Airshow.

Airbus, in its 20-year market forecast, said over 33,000 planes would be delivered in that period, with a value of $5.2 trillion. The world’s aircraft fleet should increase from today’s 19,500 aircraft to almost 40,000.

Boeing sees an even bigger market, however. In its annual 20-year outlook, the Chicago-based company said it believes airlines will want some 40,000 jetliners in the same period, making it a $5.9 trillion market. The figure is a 5% increase over its 2015 forecast.

The optimistic forecasts come even as economic challenges rise in economies across the globe.

“Despite recent events that have impacted the financial markets, the aviation sector will continue to see long-term growth with the commercial fleet doubling in size,” said Randy Tinseth, Boeing’s vice president of marketing.

The two differ in the direction they believe the market will take.

Boeing said that the single-aisle market will be “especially strong,” driven by low-cost carriers and emerging markets, while Airbus sees the current growth in traffic causing airlines to choose larger aircraft to make more efficient use of the limited number of slots available at many airports.

(Photo: Accura Media Group)

Accura News

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