Boeing releases annual commercial market outlook

2020-10-07 06:07

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SAN FRANCISCO, Oct. 6 (Xinhua) -- Airplane demand in the global market from 2020 to 2039 will reach 43,110, including 32,270 single-aisle aircraft, according to Boeing's 2020 Commercial Market Outlook (CMO), released on Tuesday.

According to the company's annual 20-year forecast addressing the market for commercial airplanes and services, single-aisle demand will recover sooner due to its key role in short-haul routes and domestic markets as well as passenger preference for point-to-point service.

Single-aisle airplanes will continue to be the largest market segment, with operators projected to need 32,270 new airplanes in the next 20 years, Boeing said.

In the widebody market, Boeing forecasts demand for 7,480 new passenger airplanes by 2039.

Widebody demand will be affected by a slower recovery in long-haul markets - typical after air-travel shocks - as well as uncertainties from COVID-19's impact on international travel, according to the company.

"Commercial aviation is facing historic challenges this year, significantly affecting near- and medium-term demand for airplanes and services," said Darren Hulst, the company's vice president of commercial marketing. "Yet history has also proven air travel to be resilient time and again."

According to Hulst, the current disruption will inform airline fleet strategies long into the future, as airlines try to focus on building versatile fleets, networks and business model innovations that deliver the capability and efficiency at the low risk for sustainable growth.

Air cargo demand, a relative bright spot in 2020, is expected to grow 4 percent annually and generate further demand for 930 new widebody production freighters and 1,500 converted freighters over the forecast period.

The global airplane fleet will continue to generate demand for aviation services. The served market for commercial services is valued at 1.6 trillion U.S. dollars and 1.4 trillion dollars for government services.

The global commercial fleet is expected to reach 48,400 by 2039, up from 25,900 airplanes in 2019.

Carriers in China will need 8,600 new planes, including 6,450 single-aisle aircraft, through 2039 with a fleet of 9,360 aircraft by the time, which will become the second-largest fleet after the North American market, according to Boeing.

Around the world, the long-term need for commercial pilots, maintenance technicians and cabin crew remains robust. Boeing's 2020 Pilot and Technician Outlook forecasts that the civil aviation industry will need nearly 2.4 million new aviation personnel between now and 2039.
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