Boeing

RENTON, Wash., Oct. 2, 2014 /PRNewswire/ -- Boeing (NYSE: BA) announced today that it will increase production on the 737 program to 52 airplanes per month in 2018 in response to strong market demand from customers worldwide. Once the increase is implemented, the 737 program is expected to build more than 620 airplanes per year, the highest rate ever for the world's best-selling commercial airplane.

"The 737 Next-Generation and 737 MAX airplanes offer our customers unparalleled efficiency and reliability," said Boeing Commercial Airplanes President and CEO Ray Conner. "Whether for fleet growth or for replacement needs, the 737 enables market success for carriers due to lower operating economics and by providing a better passenger experience."

Boeing currently produces 42 airplanes per month at its Renton, Wash., factory, and the company previously announced plans to increase the production rate to 47 airplanes per month in 2017.

"This increase is a recognition of the teamwork that achieved record level production rates while improving safety, productivity and quality," said Beverly Wyse, vice president and general manager, 737 Program, Boeing Commercial Airplanes. "Strong efforts by Boeing employees, our suppliers and community support allow us to continue to build these fabulous airplanes in Renton for years to come."

The 2014 Current Market Outlook, Boeing's long-term forecast of air traffic volumes and commercial airplane demand, projects a need for more than 25,000 single-aisle airplanes over the next 20 years, worth $2.56 trillion total market value.

"For over a decade we have seen resilient demand for the 737 and a rate increase to 52 per month reflects the appetite for airplanes like the 737 MAX and Next-Generation 737," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. "Our thorough analysis tells us the single-aisle market continues to expand and is the fastest growing, most dynamic segment of the market."

Boeing's highly efficient and reliable 737 family is the proven market leader. To date, 266 customers worldwide have placed more than 12,100 orders for the single-aisle airplane – including more than 6,800 orders for the Next-Generation 737 and more than 2,200 orders for the 737 MAX. Boeing currently has more than 4,000 unfilled orders across the 737 family.

The production rate increase announced today is not expected to have a significant impact on 2014 financial results.

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Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "plans," "projects," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements relating to our future plans, business prospects, financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based upon assumptions about future events that may not prove to be accurate. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak to events only as If the date they are made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws. Specific factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, the effect of economic conditions in the United States and globally and general industry conditions as they may impact us or our customers, as well as the other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission.

Contact: 
Adam Tischler   
737 Communications
Boeing Commercial Airplanes
425-965-6558
adam.m.tischler@boeing.com

SOURCE Boeing