Boeing Forecasts $4.5 Trillion Market for 34,000 New Airplanes
Boeing projects a $4.5 trillion market for 34,000 new airplanes over the next 20 years as the current world fleet doubles in size, according to the Boeing 2012 Current Market Outlook (CMO) released today. The company's annual forecast reflects the strength of the commercial aviation market.
"The world's aviation market is broader, deeper and more diverse than we've ever seen it," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. "It has proven to be resilient even during some very challenging years and is driving production rate increases across the board."
Airline traffic is forecasted to grow at a 5 percent annual rate over the next two decades, with cargo traffic projected to grow at an annual rate of 5.2 percent. The single-aisle market, served by Boeing's Next-Generation 737 and the future 737 MAX, will continue its robust growth. Widebodies, such as Boeing's 747-8, 777 and 787 Dreamliner, will account for almost $2.5 trillion dollars’ worth of new airplane deliveries with 40 percent of the demand for these long-range airplanes coming from Asian airlines.
New Airplane Deliveries: 2012-2031
(Airplane Type/Total Deliveries/Dollar Value)
- Single-aisle: 23,240; $2,030B
- Twin-aisle: 7,950; $2,080B
- Large: 790; $280B
- Regional jets: 2,020; $80B
Robust growth in China, India and other emerging markets is a major factor in the increased deliveries over the next 20 years. Low cost carriers, with their ability to stimulate traffic with low fares, are growing faster than the market as a whole. There is also a strong demand to replace older, less fuel-efficient airplanes. Replacement accounts for 41 percent of new deliveries in the forecast.
The market for new airplanes is set to become more geographically balanced in the next two decades. Asia-Pacific, including China, will continue to lead the way in total airplane deliveries.
New Airplane Deliveries: 2012-2031
- Asia Pacific: 12,030
- Europe: 7,760
- North America: 7,290
- Latin America: 2,510
- Middle East: 2,370
- C.I.S.: 1,140
- Africa: 900
World Total: 34,000
"It's incredible to see just how much air travel has changed since I took my first flight back in 1977," said Tinseth. "It has become critical to business and something we do for pleasure, to connect with family and friends. As the market continues to grow, especially in emerging economies, air travel will become affordable to even more people."
Freighter Fleet Forecast: 2012 to 2031
As the cargo market remains sluggish, Boeing has revised downward its projection for freighters over the next 20 years. Still, the world freighter fleet is projected to nearly double from 1,740 aircraft today to 3,200 at the end of the forecast period. Additions to the fleet will include 940 new-production freighters (market value of $250 billion) and 1,820 airplanes converted from passenger models. Large (more than 88.2 tons capacity / 80 tonnes) freighters will account for 680 new-build airplanes. Medium (44.1 to 88.2 tons / 40 to 80 tonnes) freighters will total 260 airplanes. No new standard-body freighters (49.6 tons / less than 45 tonnes) will be required, but there will be 1,120 standard-body conversions.
Since the beginning of the jet age, Boeing has produced a long-term market outlook which was first shared publicly in the early 1960s. The CMO is the longest running complete worldwide jet forecast and is regarded as the most respected and comprehensive analysis of the aviation industry.
Source: By Boeing Co News , London - 03 July 2012
Photo: The U.S. Boeing 787 Dreamliner Transport Aircraft (Photo by boeing787.net)
Photo Story: Traveling by plane is more pleasant than ever, now that manufacturers worldwide are releasing some of the greatest aircraft in terms of both functionality and comfort. An example of such aircraft is the Boeing 787 Dreamliner, developed by Boeing Commercial Airplanes, one of the greatest manufacturers in the world. The long-range, mid-size, wid-body, twin-engine jet airliner can seat up to 290 passengers. The Dreamliner comes in several variants: 787-8, 787-9, 787-3, and 787-10. The company has stated that plans of developing another version with seating capacity of up to 310 are already emerging. Developing and producing the 787 has involved a large-scale collaboration with a wide array of suppliers from all around the world.
In addition to the aircraft being perfectly assembled, the Dreamliner has another great feature: fuel saving. Nowadays, with the fuel consumption being over the top, it seems that aircraft manufacturers such as Boeing have finally understood that keeping on wasting fuel and energy will only lead to the natural resources of the planet vanishing. The Dreamliner has therefore become the most fuel-efficient airliner manufactured by Boeing and the first major airliner in the world to use composite materials for most of its construction. According to Boeing, the airliner consumes 20% less fuel than similarly-sized aircraft manufactured by this company, such as the Boeing 767. Its unmatched fuel efficiency results in exceptional environmental performance which makes the Dreamliner special and unique. The advanced technology and unparalleled performance of the 787 make it one of the best airliners in the world. Ever since 2004, when the first 787 variant was launched, the Dreamliner has become increasingly popular, with 58 customers from 6 continents placing orders for it.
851 airplanes valued over $175 billion have been requested, making the 787 the most successful twin-isle launch of a new commercial airplane in the history of Boeing. It being fuel-efficient is one of the main reasons why the Boeing 787 has been so requested by customers worldwide. Other great features of the airliner include a four-panel windshield, noise-reducing chevrons on the engine nacelles, and a smoother nose contour. Since the 787 is similar in type rating with the larger 777 twinjet and have related design features, pilots can operate both models. Clearly, the upcoming Boeing 787 models should be even greater when it comes to fuel saving, since the world nowadays is facing a hard time precisely because of the fuel wastes worldwide.