Boeing projects 3.2 percent annual increase in demand for new commercial airplanes

(MENAFN) Boeing, the American aircraft manufacturer, has projected a 3.2 percent annual increase in demand for new commercial airplanes, with deliveries expected to reach 43,975 by 2043. This surge is attributed to the continued growth in air passenger travel, which has surpassed pre-pandemic levels.

In its Commercial Market Outlook released on Friday, Boeing specified that about 33,380 of these planes, or roughly 75 percent, will be single-aisle models, which will remain the industry's primary focus for the next 20 years. The global fleet of wide-body aircraft is expected to more than double to 8,065, with twin-aisle planes making up 44 percent of the Middle East's fleet. Additionally, regional jets and freighters are predicted to number 1,525 and 1,005, respectively.

By 2043, the overall global aviation fleet is projected to reach 50,170 aircraft, nearly double the current size. Passenger air traffic is anticipated to grow at an average annual rate of 4.7 percent over the next two decades, with the number of global routes served by commercial airlines having returned to 2019 levels, despite nearly 20 percent of these routes being new.

To meet this growing demand, the aviation industry will need to hire around 2.4 million personnel, contributing to a market services value of USD4.4 trillion, according to Boeing. Despite facing operational and legal challenges, Boeing's growth estimates are based on the continued outpacing of economic growth by air travel demand in an increasingly connected world, following the disruptions caused by the pandemic.

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