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Boeing: Asia to Drive Demand for New Airplanes by 2041

Our Bureau - : Jul 18, 2022 - : 5:13 am

With demand rebounding for international air travel, Boeing has projected demand for more than 41,000 new airplanes through 2041, with Asian markets accounting for roughly 40% of long-term global demand for new aircraft. As many as 2,800 new freighters will also enter service during the period.

The company‘s 2022 Commercial Market Outlook (CMO), released in advance of the Farnborough International Airshow, forecasts a market value of US $7.2 trillion for new airplane deliveries. The global fleet is expected to increase by 80% through 2041 compared to 2019 pre-pandemic levels. About half of passenger jet deliveries will replace today’s models, improving the global fleet’s fuel efficiency and sustainability.

Boeing Global Services forecasts $3.6 trillion in demand in its market segments over the same time period, including strong demand for maintenance and modifications such as converted freighters; digital solutions that increase efficiency and reduce cost; and effective training to enable the supply of pilots and technicians.

“Despite the unprecedented disruption over the past two years, the aviation industry has shown incredible resilience adapting to the challenge,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing, Boeing. “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.”

Europe and North America each account for just over 20% of demand, with 15% of deliveries going to other regions. South Asia’s fleet continues to lead global growth, at 6.2% annually. Led by India, the region’s fleet will nearly quadruple from 700 airplanes in 2019 to more than 2,600 airplanes through 2041. Southeast Asia is projected to see the second-fastest growth with a near-tripling of its commercial fleet to 4,500 airplanes.

Single-aisle airplanes will account for 75% of all new deliveries and total nearly 31,000 airplanes. New widebody airplanes will account for about 18% of deliveries with more than 7,200 airplanes.

Boeing’s 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.

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