Boeing forecasts strong commercial sector, growth in aerospace and defence to 2028

Boeing released (17-Jun-2019) its market outlook for the 10 years to 2028 at the 2019 Paris Air Show, forecasting a strong commercial aviation industry, a growing aerospace and defence market and stable defence spending. Details include:

• Commercial aviation:
  • Commercial outlook projects a USD16 trillion market, driven by a rising requirement for 44,040 new aircraft and related services;
  • Projected demand for USD3.1 trillion in commercial aircraft as operators replace older aircraft with more capable and fuel efficient models and expand their fleets to accommodate steady growth in air travel across emerging and established markets;
• Aerospace, defence and services:
  • Aerospace and defence market value of USD8.7 trillion for the 10 years to 2028, up from USD8.1 trillion in 2018;
  • Defence and space opportunities projected at USD2.5 trillion as governments modernise military platforms and systems, pursue new technologies and capabilities and accelerate exploration. 40% of expenditure is expected to originate outside the US;
  • Services market valued at USD3.1 trillion.

Boeing CFO and EVP of enterprise performance and strategy Greg Smith commented: "Aerospace and defence continues to be a healthy and growing industry over the long term, boosted by strong fundamentals across the commercial, defence and services sectors and demand that is geographically diverse and more balanced between replacement and growth than ever before". [more - original PR]