Boeing (BA) lifted its long-term forecast for commercial airplanes as rising passenger traffic and upcoming airplane retirements drive the need for 42,730 new jets – valued at $6.3 trillion – over the next 20 years. The company’s 2018 Commercial Market Outlook, or CMO, projects the total number of airplanes increasing 4.1 percent over the previous forecast. Including airplanes that will be retained, the global fleet is projected to essentially double in size to 48,540 by 2037.
The company said the single-aisle segment will see the most growth over the forecast period, with a demand for 31,360 new airplanes, an increase of 6.1 percent over last year. This $3.5 trillion market is driven in large part by the continued growth of low-cost carriers, strong demand in emerging markets, and increasing replacement demand in markets such as China and Southeast Asia. The widebody segment calls for 8,070 new airplanes valued at nearly $2.5 trillion over the next twenty years.
Boeing estimates a $15 trillion Commercial Airplanes and Services Market for the period. Over the next 20 years, Boeing forecasts an $8.8 trillion market for commercial aviation services with annual growth of 4.2 percent.
by RTTNews Staff Writer
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