In the lead-up to the biennial Farnborough Airshow which starts on July 14, Boeing has released its updated 20-year current market outlook for the commercial airliner market.
The company predicts 36,770 new commercial aircraft of 90 seats or larger will be required in the 20 years to 2034 valued at US$5.2 trillion at list prices, an increase of 4.2 per cent over its forecast last year.
“This market is strong and resilient,” Boeing’s vice president of Marketing, Randy Tinseth said during a July 10 presentation in London. “With new and more efficient aircraft entering service, the growth in air travel is being driven by customers who want to fly where they want, when they want.”
Boeing says the growth will be fuelled mainly from the single-aisle market 25,680 of which will be needed in the next 20 years. This market is made up of aircraft such as the 737NG/MAX, A320 and A320neo Family, Bombardier’s C-Series, Embraer’s E-Jet and E2 offerings, and smaller players from Mitsubishi, Sukhoi and Comac.
In the 200 to 300 seat segment (A330, 767, A350-800, 787-8/9) Boeing predicts 4,520 new airliners will be required, while the larger 300 to 400 (777, A350-900/1000, 787-10), and the 400 seats and above (747-8, A380) segments will require 3,460 and 620 new aircraft respectively.
When broken down by region, the Asia-Pacific region is predicted to be the biggest market with 13,460 new airlines, followed by North America with 7,550, Europe with 7,450, the Middle East with 2,950, Latin America with 2,950, and smaller numbers from Russia/CIS and Africa.
Boeing’s full market outlook report can be found here.