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Boeing: 42,730 New Aircraft Needed Over 20 Years

: Jul 17, 2018 - : 2:31 pm

Boeing expects the world’s fleet to double in the next two decades.

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According to the company’s Commercial Market Outlook that was made public on the second day of the ongoing Farnborough International Airshow 2018, carriers will add around 42,730 new jets, or about 2,135 aircraft per year, valued at around US $6.3 trillion, over the next 20 years. Rising passenger traffic and upcoming aircraft retirements are driving the need for new aircraft, Randy Tinseth, Boeing Vice Prresident, Commercial Marketing, said.

The expansion of the global airplane fleet is expected to fuel the growth of the commercial industry.  There would be an overall market opportunity of around US $15 trillion by 2037.

The market outlook forecasts that passenger demand will grow by 4.7% per year over the next 20 years. Narrowbodies will account for as much as 73 percent of the total deliveries. In contrast, widebodies will constitute just 19 percent of the new deliveries. The number of regional jets will be 2,320, 5 percent of the total. As many as 980 new freighters would be delivered during the forecast period while another 1,670 aircraft will be converted from passenger airliners to freighters.

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