Business

July 3, 2012

Boeing forecasts $4.5 trillion market for 34,000 new airplanes

Boeing projects a $4.5 trillion market for 34,000 new airplanes over the next 20 years as the current world fleet doubles in size, according to the Boeing 2012 Current Market Outlook released July 3.

The company’s annual forecast reflects the strength of the commercial aviation market.

“The world’s aviation market is broader, deeper and more diverse than we’ve ever seen it,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “It has proven to be resilient even during some very challenging years and is driving production rate increases across the board.”

Airline traffic is forecasted to grow at a 5 percent annual rate over the next two decades, with cargo traffic projected to grow at an annual rate of 5.2 percent. The single-aisle market, served by Boeing’s Next-Generation 737 and the future 737 MAX, will continue its robust growth. Widebodies, such as Boeing’s 747-8, 777 and 787 Dreamliner, will account for almost $2.5 trillion dollars worth of new airplane deliveries with 40 percent of the demand for these long-range airplanes coming from Asian airlines.

 

New Airplane Deliveries: 2012-2031

Airplane Type

Total Deliveries

Dollar Value

Single-aisle

23,240

$2,030B

Twin-aisle

7,950

$2,080B

Large

790

$280B

Regional jets

2,020

$80B

 

Robust growth in China, India and other emerging markets is a major factor in the increased deliveries over the next 20 years. Low cost carriers, with their ability to stimulate traffic with low fares, are growing faster than the market as a whole. There is also a strong demand to replace older, less fuel-efficient airplanes. Replacement accounts for 41 percent of new deliveries in the forecast.

The market for new airplanes is set to become more geographically balanced in the next two decades. Asia-Pacific, including China, will continue to lead the way in total airplane deliveries.

 

New Airplane Deliveries: 2012-2031

Region

Airplanes

Asian Pacific

12,030

Europe

7,760

North America

7,290

Latin America

2,510

Middle East

2,370

C.I.S.

1,140

Africa

900

World Total

34,000

 

“It’s incredible to see just how much air travel has changed since I took my first flight back in 1977,” said Tinseth. “It has become critical to business and something we do for pleasure, to connect with family and friends. As the market continues to grow, especially in emerging economies, air travel will become affordable to even more people.”

 

Freighter Fleet Forecast: 2012 to 2031

As the cargo market remains sluggish, Boeing has revised downward its projection for freighters over the next 20 years. Still, the world freighter fleet is projected to nearly double from 1,740 aircraft today to 3,200 at the end of the forecast period. Additions to the fleet will include 940 new-production freighters (market value of $250 billion) and 1,820 airplanes converted from passenger models. Large (more than 88.2 tons capacity/80 tonnes) freighters will account for 680 new-build airplanes. Medium (44.1 to 88.2 tons/40 to 80 tonnes) freighters will total 260 airplanes. No new standard-body freighters (49.6 tons / less than 45 tonnes) will be required, but there will be 1,120 standard-body conversions.

 

About the Boeing Current Market Outlook

Since the beginning of the jet age, Boeing has produced a long-term market outlook which was first shared publicly in the early 1960s. The CMO is the longest running complete worldwide jet forecast and is regarded as the most respected and comprehensive analysis of the aviation industry.

The report and a feature, which provides an interactive database of forecast numbers, can be found at www.boeing.com/cmo.




All of this week's top headlines to your email every Friday.


 
 

 

Headlines October 24, 2014

News: U.S., South Korea delay transfer of wartime control - The U.S. and South Korea have delayed transferring wartime operational control of allied forces by taking on a “conditions-based approach” and scrapping the previously set deadline of 2015.   Business: Exclusive: Lockheed, Pentagon reach $4 billion deal for more F-35 jets - Lockheed Martin and U.S. defense...
 
 

News Briefs October 24, 2014

French moving troops toward Libyan border A top French military official says the country is moving troops toward the Libyan border within weeks and, along with U.S. intelligence, is monitoring al Qaeda arms shipments to Africa’s Sahel region. A French base will go up within weeks in a desert outpost just a hundred kilometers (60...
 
 
Navy photograph

Navy to commission submarine North Dakota

Navy photograph The PCU North Dakota (SSN 784) during bravo sea trials. The crew performed exceptionally well on both alpha and bravo sea trials. The submarine North Dakota is the 11th ship of the Virginia class, the first U.S....
 

 

Boeing announces SF Airlines order for Boeing converted freighters

Boeing announced Oct. 23 that SF Airlines has placed an order for an undisclosed number of 767-300ER passenger-to-freighter conversions (Boeing Converted Freighters). SF Airlines, a subsidiary of Shenzhen, China-based delivery services company SF Express, will accept its first redelivered 767 in the second half of 2015. “SF Express aims to become China’s most respected and...
 
 
LM-C130

Another Super Herc Little Rock Rollin’

  Lockheed Martin delivered another C-130J Super Hercules to the 61st Airlift Squadron at Little Rock Air Force Base, Ark., Oct. 23. Little Rock AFB’s new C-130J was ferried from the Lockheed Martin Aeronautics facility ...
 
 

United Technologies beats third quarter profit expectations

United Technologies Corp. Oct. 23 reported third-quarter profit of $1.85 billion as sales increased across all its businesses and the aerospace giant reported favorable tax settlements. The Hartford, Conn.,-based company said it had profit of $2.04 per share and earnings, adjusted for non-recurring gains, came to $1.82 per share. The results topped Wall Street expectations,...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>