Boeing raises forecast for new airplane demand

Last updated 08:34 11/07/2014

Relevant offers

News

Jetstar making return trip to Hawke's Bay Tourism industry calls for border tax to be scrapped or delayed Study finds airline bag fees lead to improved operations, fewer complaints Professional Instagramer Lauren Bath shares the secrets of a digital influencer New York announces plan to rebuild LaGuardia Airport AHEAD plane design project with KLM: The future of air travel? Bali eyes turning ash into tourist cash San Francisco combats the stench of urine with pee-repellant paint Watch this 57-year-old's emotional reaction reaction to first flight Best and worst plane seats: Travel experts rate the perfect airline seat experience

Boeing Co. raised its long-term forecast for new airplane demand by more than 4 per cent, based on expected orders of smaller, more fuel-efficient planes and burgeoning travel in Asia.

The Chicago company has said that it expects deliveries of 36,770 new airplanes over the next 20 years, with total list prices valued at an estimated US$5.2 (NZ$5.89) trillion.

That's up from Boeing's forecast last year that global airlines would need 35,280 jets worth US$4.8 trillion over the next 20 years.

Low-cost carriers are fuelling the fastest growing segment of the market - single-aisle airplanes. Those aircraft, such as the Boeing 737 and rival Airbus A320, make up 70 percent of all orders, with the heart of that demand found in the 160-seat range.

"There's no question the market is converging to this size, where network flexibility and cost efficiency meet," said Randy Tinseth, Boeing's commercial airplanes marketing vice president.

Small, widebody planes in the 200- to 300-seat range are leading demand in the twin-aisle segment of the market, the company said. Boeing forecasts 4,520 deliveries for those planes over the next 20 years, compared to 620 for widebody jets with 400 seats or more.

Boeing slightly reduced its forecast for large jets such as the Boeing 747 and Airbus A380. It now expects airlines will need 620 of the larger planes over 20 years, down from a forecast of 760 last year.

Boeing said in its annual current market outlook that about 37 percent of the airplane deliveries, or 13,460, will be made in the Asia-Pacific market, with North America and Europe the next two most common destinations.

Tinseth described the market for airplanes as "strong and resilient."

Boeing updated its forecast ahead of next week's opening of the Farnborough Airshow near London, one of the aviation industry's prestige events.

Ad Feedback

- AP

Comments

Special offers

Featured Promotions

Sponsored Content