The Boeing Co. sees a lower demand for aircraft over the next 20 years than it did just a year ago.
But demand for commercial jets remains strong over the next two decades.
In a report released Thursday, Boeing dropped its 20-year forecast to 29,000 new aircraft from 29,400. However, Boeing says the value of those aircraft, $3.2 trillion, remains the same due to inflation.
“While the commercial aviation industry is facing a significant downturn, it is cyclic and has a long history of declines and upturns,” said Randy Tinseth, vice president marketing, Boeing Commercial Airplanes. “The long-term outlook points to the next 20 years as being a time in which we see fundamental underlying factors supporting a strong need for new airplanes.”
Boeing forecasts the strongest demand for single-aisle aircraft, like its 737. That segment of the market will account for 67 percent of the new aircraft produced in the next 20 years, Boeing said.
Twin aisle aircraft like Boeing’s 777 or new 787 will make up 23 percent of the demand, followed by regional aircraft, which Boeing doesn’t make, at 7 percent. Very large jets, like Boeing’s 747 or Airbus’ A380 will account for 3 percent of airlines’ demand through 2028.
The Asia-Pacific region will lead other areas in terms of annual growth, averaging 6.9 percent annually, Boeing said.
Boeing’s forecast is based on its belief that airlines will look to offer direct routes to passengers.
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