Boeing is projecting demand for more than 41,000 new aircraft worth US$7.2 trillion through 2041, as demand surges underscoring aviation industry resilience two years after the pandemic began.
Boeing has released its 2022 Commercial Market Outlook (CMO), the company’s annual long-term forecast, in advance of the Farnborough International Airshow which starts Monday, July 18, 2022.
The CMO report forecasts that approximately half of passenger jet deliveries will replace today’s models, improving the global fleet’s fuel efficiency and sustainability.
“Despite the unprecedented disruption over the past two years, the aviation industry has shown incredible resilience adapting to the challenge,” said Ihssane Mounir, Boeing’s senior vice president of Commercial Sales and Marketing.
“The 2022 CMO draws upon our expertise forecasting market trends to demonstrate the strong demand for new airplanes and related services in the coming decades, providing a waypoint as the industry continues to navigate its recovery.”
The 2022 CMO includes these regional projections in the next 20 years:
- Continuing their strong growth story, Asian markets account for roughly 40 per cent of long-term global demand for new aircraft. Europe and North America each account for just over 20 per cent of demand, with 15 per cent of deliveries going to other regions.
- South Asia’s fleet continues to lead global growth, at 6.2 per cent annually. Led by India, the region’s fleet will nearly quadruple from 700 aircraft in 2019 to more than 2,600 aircraft through 2041. Southeast Asia is projected to see the second-fastest growth with a near-tripling of its commercial fleet to 4,500 aircraft planes.
- This year’s CMO does not include a forecast for aircraft deliveries to Russia due to sanctions against aircraft exports. This change reduces global 20-year demand by about 1,500 aircraft compared to last year’s CMO.
Boeing says single-aisle aircraft will account for 75 per cent of all new deliveries, unchanged from last year’s CMO, and totalling nearly 31,000 aircraft. New widebody aircraft will account for about 18 per cent of deliveries with more than 7,200 aircraft, enabling airlines to serve new and existing markets, passenger and cargo, more efficiently than in the past.
The CMO also predicts continued robust demand for dedicated freighters to support global supply chains and growing express networks. Carriers will need 2,800 additional freighters overall, including 940 new widebody models in addition to converted narrow-body and widebody freighters over the forecast period.