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.


 
 

 

Northrop Grumman signs long-term agreement with Raytheon

Northrop Grumman has entered a long-term agreement with Raytheon to supply its LN-200 Inertial Measurement Unit for Raytheon optical targeting systems. The long-term agreement with Raytheon’s Space and Airborne Systems business extends through 2018. The LN-200 provides camera stabilization on optical targeting systems that conduct long-range surveillance and target acquisition for various...
 
 
AAR-Textron

AAR awarded new contract from Bell Helicopter Textron to support T64 engines

AAR announced April 22 that Bell Helicopter Textron Inc. awarded its Defense Systems & Logistics business unit a contract providing warehouse and logistics services in support of upgrading T64 engines for the Bell V-280 Val...
 
 

Pratt & Whitney’s engine wins Gold Edison Award™

Pratt & Whitney’s PurePower® Geared Turbofan™ engine has been awarded Gold in the transportation- aviation category of the 2015 Edison Awards. Pratt & Whitney is a division of United Technologies Corp. “Our dedication to innovation and identifying ways to continuously improve is in our blood at Pratt & Whitney,” said Greg Gernhardt, president, Pratt &...
 

 

Boeing names Space Launch System VP

Boeing has named John Shannon to be vice president and program manager for the Space Launch System, which will provide NASA with heavy-lift capability to send people and cargo into deep space. Boeing is designing, developing, testing and manufacturing the core stages and avionics for SLS. Shannon succeeds Virginia “Ginger” Barnes, who is retiring. He...
 
 

Germany’s Jenoptik, Raytheon partner to produce new generators for global Patriot

Raytheon is partnering with the Jenoptik subsidiary Lechmotoren, a part of the Jenoptik Defense & Civil Systems division, to produce advanced power generators for the Patriot Air and Missile Defense system. Under terms of this new contract, Jenoptik will build power plants, power generators, test equipment and spares for one of Patriot’s global partners. Raytheon...
 
 

Boeing tops first quarter profit forecasts, airplane deliveries rise

Boeing delivered more commercial airliners in the first quarter, offsetting sluggish results in the defense side of its business and pushing its first-quarter earnings up 38 percent. The profit topped Wall Street expectations, but revenue was below forecasts, and production costs of the Boeing 787 jet continued to pile up. The shares fell about 4...
 




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>