in Business & Finance

Boeing raises forecast for new aircraft demand

Posted 22 June 2017 · Add Comment

Boeing has raised its forecast for new airplane demand, projecting the need for 41,030 new airplanes over the next 20 years valued at $6.1 trillion dollars.

The company’s annual Current Market Outlook (CMO) was released at the Paris Air Show, with total airplane demand rising 3.6 percent over last year’s forecast.

 “Passenger traffic has been very strong so far this year, and we expect to see it grow 4.7 percent each year over the next two decades,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “The market is especially hungry for single-aisle airplanes as more people start traveling by air.”

The single-aisle segment will see the most growth over the forecast, fuelled by low-cost carriers and emerging markets. 29,530 new airplanes will be needed in this segment, an increase of almost 5 percent over last year. 

The forecast for the widebody segment includes 9,130 airplanes, with a large wave of potential replacement demand beginning early in the next decade. With more airlines shifting to small and medium/large widebody airplanes like the 787 and 777X, the primary demand for very large airplanes going forward will be in the cargo market. Boeing projects the need for 920 new production widebody freighters over the forecast period.

The Asia market, including China, will continue to lead the way in total airplane deliveries over the next two decades. Worldwide, 57 percent of the new deliveries will be for airline growth, while 43 percent will be for replacement of older airplanes with new, more fuel efficient jets.

Boeing’s Current Market Outlook is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry. The full report can be found at www.boeing.com/cmo.

Forward-Looking Information Is Subject to Risk and Uncertainty 

Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "forecasts," "projects," "plans," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future plans, business prospects, financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict.

Many factors could cause actual events to differ materially from these forward-looking statements, including economic conditions in the United States and globally, general industry conditions as they may impact us or our customers, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made and we undertake no obligation to update or revise any such statement, except as required by law.

 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Legacy of Ghav's pioneers of peace

For more than a decade, the Ghana Aviation Unit (GHAV) was deployed in Côte d'Ivoire as part of a UN peacekeeping force. Erwan de Cherisey looks at what was achieved and the legacy left by the unit as it finally went home earlier this year.

The A350-1000 is certified for airline service

Delivery of the first A350-1000 – the longest-fuselage version of Airbus' A350 XWB jetliner – is planned before year-end following the aircraft's Type Certification by the European and U.S. airworthiness authorities.

Honeywell selects ExecuJet Nigeria in expansion of African flight-deck avionics service

Honeywell has selected ExecuJet Nigeria as an approved avionics dealer and installation and service facility for business aircraft owners in the Africa region.

South African Airways continues services to Zimbabwe

South African Airways (SAA) has clarified that its operations between Johannesburg and Zimbabwe remain in place in spite of the prevailing situation in Zimbabwe.

Air Sénégal orders A330neos

Air Sénégal has signed an MoU with Airbus for two A330-900neo with options for a further two, reports ch-aviation.

IATA urges Swift GASeP implementation

The International Air Transport Association (IATA) urged the swift implementation by states of the first Global Aviation Security Plan (GASeP) which was established this week by the Council of the International Civil Aviation

Aviation Africa SK18418
See us at
AfBAC Expo BT2017Aviation Africa BT18418Global Aerospace BT28218