Plane truth: 39,620 aircraft worth $5.9t needed in next 20 years

Dubai - Middle East to be the fourth-largest region in terms of new aircraft deliveries by 2035 with 3,310 aeroplanes

It is projected that 39,620 new aircraft worth $5.9 trillion will be required in the next 20 years, Boeing said in its latest forecast.
The Middle East will be the fourth-largest region in terms of new aircraft deliveries by 2035 with 3,310 airplanes. Asia ranked top with 15,130 deliveries in the next 20 years, followed by North America with 8,330 aircraft and Europe with 7,570 aeroplanes.
Boeing projects a demand for 39,620 new airplanes over the next 20 years, an increase of 4.1 per cent over last year's forecast.
Boeing released its annual Current Market Outlook on the first day of the Farnborough International Airshow, estimating an increase of 4.1 per cent over the last year's forecast.
"Despite recent events that have impacted the financial markets, the aviation sector will continue to see long-term growth with the commercial fleet doubling in size," said Randy Tinseth, vice-president of marketing at Boeing Commercial Airplanes. "We expect to see passenger traffic grow 4.8 per cent a year over the next two decades."
The single-aisle market will be especially strong, with low-cost carriers and emerging markets driving growth. Around 28,140 new aeroplanes will be needed in this segment, an increase of more than five per cent over last year.
"There's no question the heart of the single-aisle market is around the new Boeing MAX 8 and MAX 200, as well as the current 737-800. Aeroplanes that size already account for 76 per cent of the current single-aisle global backlog, and our products have the clear advantage in that space."
On the widebody side, 9,100 aeroplanes are in the forecast, with a large wave of potential replacement demand in the 2021-28 time frame. Boeing projects a continued shift from very large airplanes to small and medium widebodies such as the 787, 777 and 777X.
With cargo traffic forecasted to grow at 4.2 per cent per year, Boeing projects the need for 930 new freighters and 1,440 converted freighters.
The Asian market, including China, will continue to lead the way in total aeroplane deliveries over the next two decades.
- abdulbasit@khaleejtimes.com