Boeing has announced a projected demand for more than 35,000 new aircraft over the next 20 years, valued at $4.8 trillion. The company released its annual Current Market Outlook (CMO) in Paris on June 11, forecasting the world fleet to double over the next two decades. Both passenger traffic and cargo traffic are expected to grow 5% annually.
“This forecast gives us confidence as we increase our production rates and invest in new products like the 777X and 787-10X,” said Randy Tinseth, Vice President of Marketing, Boeing Commercial Airplanes. “Airlines are demanding more efficiency and that is exactly what we’ll be giving them.”
Boeing says the single-aisle market, served by its Next-Generation 737 and the future 737 MAX, is the main driver of the forecast and continues to show strength. It estimates that 24,670 new aircraft will be needed in this segment due to the growth of low-cost carriers and airlines from emerging markets.
Widebodies, such as Boeing’s 747-8, 777 and 787 Dreamliner, also make up a large part of the forecast. 8,590 new airliners will be needed in this segment, fuelled in part by airlines replacing their older fleet with new, more fuel-efficient aircraft.