--New twin-aisle aircraft opening new markets
PARIS, June 16, 2011 /PRNewswire/ -- Boeing (NYSE: BA) forecasts a $4 trillion market for new aircraft over the next 20 years with a significant increase in forecasted deliveries. That's according to the Boeing 2011 Current Market Outlook (CMO) released today in Paris. The company's annual commercial aviation market analysis foresees a market for 33,500 new passenger airplanes and freighters between 2011 and 2030.
"The world market has recovered and is now expanding at a significant rate," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. "Not only is there a strong demand for air travel and new airplanes today, but the fundamental drivers of air travel – including economic growth, world trade and liberalization – all point to a healthy long-term demand."
Passenger traffic is expected to grow at 5.1 percent annual rate over the long-term and the world fleet is expected to double by 2030. The single-aisle market will continue to see strong demand around the world and is expected to increase its share of the market. Fleet composition will change significantly by 2030 with single-aisle jets making up 70 percent of the total.
Fleet Composition | 2010 | 2030 | |
Single-aisle | 62% | 70% | |
Twin-aisle | 19% | 22% | |
Regional jet | 15% | 5% | |
Large | 4% | 3% | |
Robust growth in China, India and other emerging markets will lead to a more balanced airplane demand worldwide. China, which has experienced double-digit growth in gross domestic product in recent years, is forecasted to grow at 7 percent per annum, while South Asia, which includes India, is forecast to grow at 7.1 percent.
Asia Pacific is forecasted to need the most new airplanes over the next 20 years and will represent the largest market by value of deliveries at more than $1.5 trillion. The region will account for more than a third of new deliveries worldwide, while the Middle East and Latin America will also continue to show very strong growth.
New Airplane Deliveries: 2011-2030 | ||
Region | Airplanes | |
Asia Pacific | 11,450 | |
Europe | 7,550 | |
North America | 7,530 | |
Latin America | 2,570 | |
Middle East | 2,520 | |
C.I.S. | 1,080 | |
Africa | 800 | |
World Total | 33,500 | |
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