Boeing forecasts £3.3 trillion demand for new airplanes

Boeing has estimated a demand for 36,770 new airplanes over the next 20 years worth £3.3 trillion, an increase of 4.2% from last year’s forecast, according to its annual Current Market Outlook today.

Randy Tinseth, vice president of marketing at Boeing Commercial Airplane said: “This market is strong and resilient.

“With new and more efficient airplanes entering service, the growth in air travel is being driven by customers who want to fly where they want, when they want.

“Based on the overwhelming amount of orders and deliveries, we see the heart of the single-aisle market in the 160-seat range.

“There’s no question the market is converging to this size, where network flexibility and cost efficiency meet.

“The Next-Generation 737-800 and new 737 MAX 8 offer our customers the most revenue potential in this mid-sized space.

“With the most comprehensive widebody lineup in the industry, we’re confident that we will meet our customers’ needs now and in the future.

Driving this year’s forecast is the single-aisle market, projected to be the fastest growing and most dynamic segment due to continued emergence of low-cost carriers.

25,680 new airplanes will be needed in this segment, making up 70% of the total units in the forecast.

Boeing forecasts that 8,600 new airplanes will be needed in the twin-aisle segment, led by small wide-body airplanes in the 200 to 300 seat range such as the 787-8 and 787-9 Dreamliner.

This year’s forecast reflects a continued shift in demand from very large airplanes to efficient new twin-engine products such as the 787-10 and new 777X.

The Asia-Pacific market, including China, will continue to lead the way in total airplane deliveries over the next two decades.

Boeing’s Current Market Outlook is the longest running jet forecast in the aviation industry.