Boeing Raises Forecast for New Airplane Demand

20-year outlook projects 41,000+ new airplanes, valued at $6.1 trillion
3.6 percent increase over 2016 forecast

LE BOURGET, France, June 20, 2017 /PRNewswire/ -- Boeing [NYSE: BA] has raised its forecast for new airplane demand, projecting the need for 41,030 new airplanes over the next 20 years valued at $6.1 trillion dollars.

The company's annual Current Market Outlook (CMO) was released today at the Paris Air Show, with total airplane demand rising 3.6 percent over last year's forecast.

"Passenger traffic has been very strong so far this year, and we expect to see it grow 4.7 percent each year over the next two decades," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. "The market is especially hungry for single-aisle airplanes as more people start traveling by air."

The single-aisle segment will see the most growth over the forecast, fueled by low-cost carriers and emerging markets. 29,530 new airplanes will be needed in this segment, an increase of almost 5 percent over last year.

The forecast for the widebody segment includes 9,130 airplanes, with a large wave of potential replacement demand beginning early in the next decade. With more airlines shifting to small and medium/large widebody airplanes like the 787 and 777X, the primary demand for very large airplanes going forward will be in the cargo market. Boeing projects the need for 920 new production widebody freighters over the forecast period.

New Airplane Deliveries through 2036 by size

 

Airplane type

Seats

Total deliveries

Market value

Regional jets

90 and below

2,370

$110 billion

Single-aisle

90 – 230

29,530

$3,180 billion

Small widebody

200 – 300

5,050

$1,340 billion

Medium/Large widebody

300 and above

3,160

$1,160 billion

Freighter widebody

---------

920

$260 billion

Total

---------

41,030

$6.1 trillion

The Asia market, including China, will continue to lead the way in total airplane deliveries over the next two decades. Worldwide, 57 percent of the new deliveries will be for airline growth, while 43 percent will be for replacement of older airplanes with new, more fuel efficient jets.

New Airplane Deliveries through 2036 by region

 

Region

Airplane deliveries

Asia

16,050

North America

8,640

Europe

7,530

Middle East

3,350

Latin America

3,010

C.I.S.

1,230

Africa

1,220

Total

41,030

Boeing's Current Market Outlook is the longest running jet forecast and regarded as the most comprehensive analysis of the aviation industry. The full report can be found at www.boeing.com/cmo.

Forward-Looking Information Is Subject to Risk and Uncertainty

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," "forecasts," "projects," "plans," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include 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 on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict.

Many factors could cause actual events to differ materially from these forward-looking statements, including economic conditions in the United States and globally, general industry conditions as they may impact us or our customers, and other important factors disclosed previously and from time to time in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made and we undertake no obligation to update or revise any such statement, except as required by law.

Contact:
Doug Alder
Boeing Commercial Airplanes Communications
+1 206 660 2978
doug.alder-jr@boeing.com

SOURCE Boeing

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