Despite the recent downturn in air traffic, the Boeing Co. sees strong long-term growth in the industry.
“The world market is doing much better than last year, but there are still challenges,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “We expect the world economy to grow above the long-term trend this year.”
Boeing predicts the world’s airlines will need 30,900 new commercial jets over the next 20 years. Those aircraft are valued at $3.6 trillion.
The company sees especially strong demand for single-aisle aircraft like its Renton-built 737 than what Boeing previously predicted.
“Clearly the demand for single aisle airplanes has been much stronger than we expected,” Tinseth said.
Boeing is considering whether it will upgrade its 737 with a new engine or introduce an all-new single-aisle jet. The decision is likely to come this year. The company is having similar talks about its 777 widebody jet built here in Everett.
Tinseth and Boeing believe the demand for medium sized aircraft, like the 777 and 787 or Airbus’ A350 and A330 will continue to be strong. Although airlines will need fewer of these jets than the single aisle aircraft, the value of the market segment is roughly the same as the the single aisle segment.
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