Boeing predicted on Saturday that there will be a demand for more than 41,000 new airplanes by the year 2041 after releasing its commercial market outlook (CMO).
The CMO forecasts a market value of $7.2 trillion for deliveries of new airplanes as international traffic gains momentum post-pandemic, with the freighter fleet increasing by 80% in the next twenty years - including the increase in both converted and new models. Overall, by 2041, airplane deliveries and commercial services combined are estimated to be valued at $10.8 trillion.
The fleet's fuel sustainability and efficiency are expected to improve with half of the passenger jet deliveries that are replacing models used today.
Furthermore, Boeing Global Services projects that market demand will reach $3.6 trillion through 2041, including demand for maintenance and modifications, digital projects to reduce costs while improving efficiency and pilot and technician training.
"Despite the unprecedented disruption over the past two years, the aviation industry has shown incredible resilience adapting to the challenge," said Boeing's senior vice president of Commercial Sales and Marketing Ihssane Mounir.
"The 2022 CMO draws upon our expertise forecasting market trends to demonstrate the strong demand for new airplanes and related services in the coming decades, providing a waypoint as the industry continues to navigate its recovery."
Ihssane Mounir, Boeing Senior Vice President of Commercial Sales and Marketing
"The 2022 CMO draws upon our expertise forecasting market trends to demonstrate the strong demand for new airplanes and related services in the coming decades, providing a waypoint as the industry continues to navigate its recovery."
Demand
In the CMO projections for the next 20 years, Asian markets are expected to lead global demand, making up about 40% of total demand for new aircraft, followed by Europe and North America at around 20%.
Led by India, South Asia's fleet is expected to grow at a rate of 6.2% each year, quadrupling from 700 planes in 2019 to over 2,600 through 2041.