Boeing has forecasted the need for nearly 44,000 new commercial aeroplanes over the next 20 years, driven by a significant recovery and growth in air travel. Released at the Farnborough International Airshow, Boeing’s 2024 Commercial Market Outlook (CMO) highlights that air travel has surpassed pre-pandemic levels and will continue to grow, with passenger air traffic expected to increase by 4.7% annually.
Key Highlights from Boeing’s Forecast
- The global commercial fleet will grow by 3.2% annually, with airlines enhancing productivity.
- The air cargo fleet will expand by two-thirds, supporting a 4.1% annual growth in air cargo traffic.
- Single-aisle aeroplanes will dominate, accounting for 71% of the 2043 fleet with 33,380 new deliveries.
- The widebody fleet will more than double, particularly in the Middle East, where twin-aisles will comprise 44% of the fleet.
- Emerging markets, particularly in South Asia, Southeast Asia, and Africa, will see the highest passenger traffic growth rates.
Market Trends and Services
- Global airline fares remain similar to 20 years ago, despite overall consumer price increases.
- The number of global routes has returned to 2019 levels, with 20% being new routes.
- Boeing anticipates a $4.4 trillion demand for commercial services, including maintenance, modifications, and digital solutions.
- The industry will require nearly 2.4 million new personnel for pilots, technicians, and cabin crew to support this growth.
This outlook underscores the aviation industry’s resilience and the continued importance of innovation and efficiency in meeting future demand.
