Boeing expects the commercial jet market to demand 42,595 new aircraft over the next 20 years.
The US manufacturer unveiled the 2023 edition of the Commercial Market Outlook at the Paris Air Show in Le Bourget.
According to Boeing’s forecast, the global fleet of commercial jets will reach 48,600 units, including widebodies, narrowbodies, regional models and freighters.
New orders are expected to generate $8 trillion worth of MSRP. To reach this level, the demand for commercial aircraft will grow annually at an average of 3.5% while passenger traffic will expand at a pace of 2.6% annually,
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About half of new orders involve replacing current aircraft with more efficient models.
“The aviation industry has demonstrated resilience and adaptability after unprecedented disruption, with airlines responding to challenges, simplifying their fleets, improving efficiency and capitalizing on resurgent demand,” said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing.
“Looking to the future of air travel, our 2023 CMO reflects further evolution of passenger traffic tied to global growth of the middle class, investments in sustainability, continued growth for low-cost carriers, and air cargo demand to serve evolving supply chains and express cargo delivery.”
Asia-Pacific markets will take more than 40% of demand, half of that in China alone. Europe and North America will have 20% of the total.
Low-cost airlines will operate 40% of a corridor’s fleet, a 10% increase from the current share.
Jets like the Boeing 737 and Airbus A320 will have more than 75% of orders while widebodies will have almost 20%. Regional aircraft such as Embraer’s E2 will have just over 4% of the global market.
Boeing’s statistics again include Russia and Central Asian countries after the invasion of Ukraine brought uncertainty about these markets.
