Boeing sees demand for 44,000 new aircraft through 2043
Amid post-pandemic travel recovery
Boeing has projected a significant resurgence in air travel demand, surpassing pre-pandemic levels and driving a robust forecast for commercial aircraft deliveries over the next two decades.
Ahead of the Farnborough International Airshow 2024, Boeing unveiled its 2024 Commercial Market Outlook (CMO), anticipating a need for 44,000 new commercial aircraft by 2043.
With air travel recovering vigorously, Boeing forecasts a 3% increase in aircraft deliveries compared to its previous outlook, driven by a surge in global passenger and freighter fleets.
The 2024 CMO highlights that single-aisle aircraft will dominate the market, comprising 76% of all commercial deliveries, as airlines prioritise fuel efficiency and operational flexibility.
“This is an exciting and challenging time for the aviation industry,” said Brad McMullen, Boeing’s senior vice president of Commercial Sales and Marketing.
“The resilience of our industry is evident as we navigate supply chain challenges and meet rising global demand.”
Key findings from Boeing’s 2024 CMO include:
- Global fleet expansion: The commercial fleet is expected to grow by 3.2% annually, slightly slower than air traffic growth, reflecting enhanced fleet productivity.
- Cargo fleet growth: Air cargo demand is projected to increase significantly, supporting a 4.1% annual growth in air cargo traffic, emphasising the sector’s reliability and speed.
- Regional demand: Emerging markets in South Asia, Southeast Asia, and Africa will lead passenger traffic growth, with annual increases ranging from 6.4% to 7.4%.
- Market distribution: Eurasia, North America, and China are anticipated to lead in aircraft deliveries, collectively accounting for over 60% of total new deliveries.
- Service sector expansion: Boeing expects a substantial increase in demand for commercial services valued at $4.4 trillion, driven by efficiency-enhancing digital solutions and maintenance options.
Boeing’s 2024 CMO new deliveries (2024-2043):
- Regional jet (1,525)
- Single aisle (33,380)
- Widebody (8,065)
- Freighter (1,005)
- Total (43,975)
Featured image: Aircraft at Zvartnots International Airport in Yerevan, Armenia, on June 8, 2024. Eurasia, North America, and China will lead in aircraft deliveries. Credit: Arnold Pinto
