Boeing forecasts demand for 39,620 new airplanes

Thursday, 14 July 2016 00:00 - - {{hitsCtrl.values.hits}}

Boeing projects a demand for 39,620 new airplanes over the next 20 years, an increase of 4.1% over last year’s forecast.

Boeing released its annual Current Market Outlook (CMO) on the first day of the 2016 Farnborough International Airshow, estimating the total value of those new airplanes at $5.9 trillion.

“Despite recent events that have impacted the financial markets, the aviation sector will continue to see long-term growth with the commercial fleet doubling in size,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “We expect to see passenger traffic grow 4.8% a year over the next two decades.”

Boeing says it expects the single-aisle market will be especially strong, with low-cost carriers and emerging markets driving growth.

28,140 new airplanes will be needed in this segment, an increase of more than 5% over last year.

On the widebody side, 9,100 airplanes are in the forecast, with a large wave of potential replacement demand in the 2021- 2028 time frame.

With cargo traffic forecasted to grow at 4.2% per year, Boeing predicts the need for 930 new freighters and 1,440 converted freighters.