Boeing released (15-Jul-2010) its 2010 Current Market Outlook, forecasting a market for 30,900 new commercial passenger and freighter aircraft by 2029, valued at USD3.6 trillion. The forecast is 1,900 aircraft higher than its 2009 outlook, as the market for new commercial airplanes as world economies rebound and strong demand for new and replacement aircraft is expected to spur growth.
- Passenger traffic: +5.3% p/a.
- Cargo traffic: 5.9%;
- World GDP: 3.2%;
- Aircraft fleets: 3.3%;
- Aircraft demand by type:
- Large: 720;
- Widebody: 7,100;
- Narrowbody: 21,160;
- Regional jets: 1,920.
- Aircraft demand by region:
- Asia Pacific: 10,320 aircraft, USD1,320 billion;
- North America: 7,200, USD700 billion;
- Europe: 7,190, USD800 billion;
- Middle East: 2,340, USD390 billion;
- Latin America: 2,180, USD210 billion
- CIS: 960, USD90 billion;
- Africa: 710, USD60 billion. [more]
Boeing Commercial Airplanes: "The world market is doing much better than last year, but there are still challenges. Looking at 2010, we see a world economy that continues to recover. We expect the world economy to grow above the long-term trend this year. As a result, both passenger and cargo travel will grow this year. Airline revenue and yields are up, but fuel prices remain volatile. The inclusion of the high traffic-growth levels in 2010, following the recession, is driving our cargo forecast upward ... Today, about one-third of all airline traffic touches the Asia Pacific region, and as a result of the growth in this market, by 2029 almost 43% of all traffic will be to, from, or within the region ... However, the strength of the industry and its growth will continue to be driven by sound fundamentals - speed and reliability, consumer product innovation and global industrial interdependence," Randy Tinseth, VP of Marketing. Source: Boeing, 15-Jul-2010.