Boeing sees manufacturing sector growth by more than 20k planes in 20 years
ALBAWABA – American aircraft manufacturer Boeing published a 20-year industry projections report on Sunday, estimating a worldwide sector growth by more than 20,000 airplanes by 2042.
Overall, Boeing estimated there will be 48,575 planes in service in 2042, compared to 24,500 in 2022.
Bloomberg valued Boeing’s estimated demand at about $8 trillion, even as concerns over climate change affect the way consumers travel.
The report indicated that manufacturers around the world will have to produce around 42,595 plans.
Half of the projected amount for production will go to replacing existing aircrafts, and half to account for growth, according to Agence France-Presse (AFP).
Continentally, North America accounts for 23 percent of the new planes, Asia-Pacific region for 22 percent, Eurasia for 21 percent, and China alone accounts for 20 percent of the demand.
The projections report was published on the evening of the launch of the Bourget air show near Paris, France, and they are in line with Boeing’s projections last year.
Meanwhile, last Wednesday, Airbus published its own report, anticipating demand for 40,850 new passenger and cargo planes by 2042.
Airbus estimated that there will be 46,560 aircrafts in service by 2042, AFP reported.
According to Boeing, narrowbody jets like its 737 MAX, or the A320neo family made by European rival Airbus, will dominate aircraft deliveries, with 32,420 single-aisle jets to be delivered through 2042.
Deliveries from now until 2042 are also expected to include 7,440 widebody planes, 1,810 regional jets and 925 freighters, Reuters reported.
Boeing also raised its industrywide passenger traffic forecast growth rate slightly from 3.8 to 4 percent.
Meanwhile, the air cargo market is taking "a little bit of a breather." The estimated 3 percent annual growth in trade over the next 20 years will provide a tailwind for future demand, Darren Hulst, Boeing's vice president of commercial marketing, told Reuters.
