Boeing predicts an aviation recovery by 2024 | New
Boeing has released its annual forecast for the commercial aerospace, defense and space market, reflecting signs of recovery from the impacts of Covid-19.
The Boeing Market Outlook (BMO) says commercial aircraft and services are showing signs of recovery, while global defense, space and government services markets have remained stable.
The document projects a market of $ 9 trillion over the next decade for the aerospace products and services that Boeing addresses.
The forecast is up from $ 8.5 trillion a year ago and $ 8.7 trillion in the pre-pandemic 2019 forecast, reflecting continued progress in the market recovery.
“As our industry recovers and continues to adapt to meet new global needs, we remain confident in the long-term growth of aerospace,” said Marc Allen, chief strategy officer, Boeing.
“We are encouraged by the fact that scientists have delivered vaccines faster than imagined and that passengers are showing great confidence in air travel.”
The new Commercial Market Outlook (CMO) reflects that the global market is recovering largely as Boeing anticipated in 2020.
Demand for domestic air travel is leading the recovery, intra-regional markets are expected to follow as health and travel restrictions ease, followed by long-haul travel returning to pre-pandemic levels by 2023 to 2024.
In Boeing’s Market Outlook, CMO forecasts a ten-year global demand for 19,000 commercial aircraft valued at $ 3.2 trillion.
Boeing’s 20-year business forecast to 2040 projects demand for more than 43,500 new aircraft valued at $ 7.2 trillion, an increase of about 500 aircraft from last year’s forecast .
In an area of significant growth, projected demand has increased for dedicated freighters, including new and converted models.
With sustained demand for air cargo linked to the expansion of e-commerce and the speed and reliability of air cargo, CMO predicts that the global cargo fleet in 2040 will be 70% larger than the pre-WWII fleet. pandemic.
“The aerospace industry has made significant progress in the recovery, and Boeing’s forecast for 2021 reflects our confidence in the resilience of the market,” said Stan Deal, president of Boeing Commercial Airplanes.
“While we remain realistic about the current challenges, last year has shown that passenger traffic rebounds quickly when the traveling public and governments have confidence in the health and safety of air travel.
“Our industry continues to play a vital role in bringing people together and transporting essential supplies. “
Read the full report, here.