Boeing Co. (BA: Quote) expects a $4.5 trillion market for 34 thousand new airplanes over the next 20 years as the current world fleet doubles in size, according to the Boeing 2012 Current Market Outlook released on July 3. The company's annual forecast reflects the strength of the commercial aviation market.
Airline traffic is anticipated 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 worth of new airplane deliveries with 40 percent of the demand for these long-range airplanes coming from Asian airlines.
Boeing noted that robust growth in China, India and other emerging markets is a major factor in the increased deliveries over the next 20 years. There is also a strong demand to replace older, less fuel-efficient airplanes. Replacement accounts for 41 percent of new deliveries in the forecast.
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by RTT Staff Writer
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