Boeing estimates a huge demand for new aircrafts and services over the next two decades, mainly in the low-cost segment.
The growth will be driven by low-cost carriers (LCC) boosted by China and Brazil
The need for narrow-body jets like Boeing 737 and Airbus A320 family will surge as the demand for capacity increases in the years to come, Boeing said to Bloomberg news.
After nine years of unpreceded growth for aerospace, air travel is continuing to boom as global travel and economic growth in emerging markets like China and Brazil, lift about 160 million people into the middle class each year.
Huge demand for passenger jets
Boeing estimates the airlines will need to order no less than 42.700 new passenger jets over the next two decades, with a price tag of 6.3 trillion dollars.
Nearly three-quarters of the expected sales will be for single-aisle jets, being the main tool for LCC’s all over the world.
Included in the forecast are 8.070 wide-body jets valued at USD 2.5 trillion and 2.320 regional jets with a price tag of USD 110 billion.
Smaller single aisle aircraft with long range
Randy Tinseth, Boeing vice president for commercial marketing said, “single-aisle aircrafts continue to get more capable, they are grabbing a fair share from the wide-bodies”. Referring to Boeing 737 MAX and Airbus A320neo with long range and powerful engines.
New and larger market for services
Boeing also predicts that the market for spare parts, aircraft modification and data monitoring of sensors designed to predict maintenance issues. This trend goes hand-in-hand with the increasing number of LCC’s and their strategy of outsourcing maintenance and other service needs.
Asia-Pacific region will be leading
This region will continue to outgrow the rest of the world over the next 20 years and will account for about 40 percent of new aircraft deliveries, North-America, the current market leader, combined with Europe, will account for another 40 percent of future aircraft demand, Boeing predicts.