With both passenger and cargo traffic expected to grow 5 percent annually moving forward, the global airline industry will need more than 35,000 new planes at a cost of $4.8 trillion over the next 20 years, according to Boeing’s Current Market Outlook
The largest amount of demand will come in the single-aisle category, with Boeing predicting a need for 24,670 planes at a cost of $2.29 trillion. The manufacturer predicts the least amount of demand will come for large, wide-body planes; carriers will ask for 760 of those aircraft at a cost of $280 billion. Small, wide-body planes; midsized, wide-body craft; and regional jets will also be popular, in that order.
The Asia-Pacific region is expected to demand 12,820 new planes, the largest demand of any region by far. Europe and North America will both have an appetite for more than 7,000 new aircraft. Latin American carriers will demand around 2,900 planes; 2,610 planes will go to the Middle East; and Indian airlines will need 1,170 craft. African airlines will demand the smallest amount of planes, asking for 1,070 by 2032.
Boeing officials see the numbers as good news and proof that the aviation industry is once again growing.
"Our customers are focused on growing their networks, managing their capacity and investing in new fleets," Boeing’s Randy Tinseth said in a statement. "These trends will shape market demand for airplanes that have highly efficiency, low operating costs, environmentally progressive technologies and a great passenger experience.” - Jon Ross