High demand for new airplanes from the Asia Pacific will fuel demand for more than 35,000 new airplanes valued at US$4.8 trillion over the next two decades, Boeing predicts.
The US based plane maker says the number of airplanes will double in size by 2033. Annual growth will average 5% per year, bringing the total number of airliners – both passenger and cargo – to 35,280 by 2032.
The Asia Pacific, led by China, will account for 12,820 aircraft. Europe will come in second with 7,460 planes, followed by North America, with 7,250, and Latin American, with 2,900.
“This forecast gives us confidence as we increase our production rates and invest in new products like the 777X and 787-10X,” says Randy Tinseth, Vice President of Marketing, Boeing Commercial Airplanes.
“Airlines are demanding more efficiency and that is exactly what we’ll be giving them.”
Single Aisle Market
The single-aisle market, served by Boeing’s Next-Generation 737 and the future 737 MAX, is the main driver of the forecast and continues to show strength. 24,670 new airplanes 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 airplanes will be needed in this segment, fueled in part by airlines replacing their older fleet with new, more fuel-efficient airplanes.nue to become more geographically balanced over the next two decades.
Asia-Pacific, including China, will lead the way in total airplane deliveries.