The global commercial aviation industry will need about 41,030 new aircraft in the next 20 years.
China will lead the demand of by 7,240 news aircrafts. In next 20 years aircraft industry will do the business of $ 6.1 trillion US dollar.
This was stated by Boeing’s Current Market Outlook (CMO) report which was released in Beijing today.
The CMO report says that the demand for aircraft has increased due to increased GDP growth and infrastructure development all over the world.
Outlook says that till 2036 global air travel will grow by 4.7 percent, and aircraft fleets will grow by 3.5 percent concurrently.
The key factors fueling this growth are:
- The underlying demand for air travel.
- The regulatory, infrastructure, and technology environment issues.
- The strategies and products airlines offer in the marketplace.
The demand for new aircraft will be lead by single-aisle narrow body or aircraft that contain 90 to 230 seats. These aircraft are expected to fulfill the demand of domestic and regional businesses as well as tourism needs.
Till 2036, the global demand of single aisle aircraft will be 29,530. These aircraft will be worth $ 3.18 trillion. This figure represents almost half of the new aircraft demand.
CMO says that for other types of aircraft,
- demand for regional jets (with up to 90 seats) will be 2,370 units, with a total worth of $ 110 billion,
- demand for small wide body (with 200-300 seats) will be 5,050 aircraft, with a total worth $ 1.34 trillion,
- demand for medium and large wide body (with 300 and above seats) will be 3,160 units, with a total worth $ 1,16 trillion,
- 920 freighters will be required with total worth of $260 billion.
According to CMO, the Asia Pacific region will lead the way when it comes to new aircraft demand. In the next 20 years Asia Pacific will need 16,050 new aircraft. China will be the leader in the region as well as the global level.
OMC says that China’s leading provider of commercial airplanes, projects a demand for 7,240 new aircraft in the country over the next 20 years, a deal that’s worth nearly $1.1 trillion dollars.
Boeing’s Vice President of Marketing, Randy Tinseth said that China’s continuous economic growth, significant investment in infrastructure, a growing middle-class and evolving airline business models support this long-term outlook.
“China’s fleet size is expected to grow at a pace well above the world average, and almost 20 percent of global new airplane demand will be from airlines based in China.” – Randy Tinseth
CMO says that in the next 20 years:
- North America will require 8,640 new aircraft,
- Europe will need 7,530 aircraft,
- Middle East will need 3,350 planes,
- Latin America will require 3,010 aircraft,
- CIS will need 1,230 aircraft,
- Africa will need 1,220 new aircraft.