A recent long-term forecast by Boeing on commercial airplanes and services predicts that 42,730 new jets with a total value of $6.3 trillion are to be added to the global fleet in 20 years’s time. It will be accompanied by growing demand for commercial aviation services, leading to a total market size of $15 trillion.
According to Boeing’s Commercial Market Outlook (CMO) data, the global commercial fleet is going to essentially double in size to 48,540 by 2037. The single-aisle segment will see the most growth over the forecast period, thanks in large part to the continued growth of low-cost carriers, strong demand in emerging markets, and increasing replacement demand in markets such as China and Southeast Asia.
Over the next 20 years, Boeing forecast an $8.8T market for commercial aviation services with annual growth of 4.2 percent. Major categories in the services forecast include the $2.3 trillion market for Maintenance & Engineering and $1.1 trillion market for Flight Operations. The full report can be found at www.boeing.com/cmo.
Image: Mike Kelley