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Malay Mail
12 hours ago
- Business
- Malay Mail
Boeing trims 2044 global air fleet forecast to 49,600 planes as supply chain issues slow deliveries
NEW YORK, June 15 — The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released yesterday. The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning tomorrow. Emerging markets 'with expanding middle classes, dynamic and competitive airline networks and sustained aviation investment' will represent more than 50 per cent of the commercial fleet in 2044, up from nearly 40 per cent in 2024, Boeing said. But the forecast also shows the effects of supply chain difficulties in the wake of the Covid-19 pandemic. 'The supply chain has probably had a small role in our slight reduction in deliveries over the next 20 years,' Boeing vice president of Commercial Marketing Darren Hulst said at a briefing on Tuesday. The briefing came before Thursday's deadly Air India crash of a Boeing 787 Dreamliner. Following the crash, which has killed at least 279 people, Boeing CEO Kelly Ortberg and commercial plane chief Stephanie Pope cancelled plans to attend. The Boeing forecast projects annual passenger growth of 4.2 per cent, above the 2.3 per cent annual growth in GDP. 'New aircraft deliveries haven't been able to keep up with the demand,' said Hulst, who estimates that problem has resulted in a 'cumulative shortage' of some 1,500 to 2,000 planes. But Hulst expects the cadence of deliveries to pick up between now and the end of the current decade. Of the 43,600 new planes required between now and 2044, an estimated 21,100 will replace existing fleet and 22,500 will be needed to address rising demand in China and emerging markets. These figures indicate an expected dramatic expansion of the global air fleet over four decades from 2004, when the fleet consisted of just 16,780 planes. In a sign of how the aviation market has changed, the 10 biggest aviation companies in 2004 accounted for 45 per cent of the global fleet and were dominated by companies from North American and Europe. But today's top 10 account for just 30 per cent of the market and are composed of a greater share of companies from Asia and the Middle East — a region that had no companies in the top 10 in the earlier period. — AFP
Time of India
13 hours ago
- Business
- Time of India
Global aviation forecast dips slightly: Boeing sees fleet nearing 50,000 by 2044; cites post-pandemic supply chain woes
The Boeing worldwide commercial aircraft fleet is projected to reach nearly 50,000 aircraft by 2044, with the majority manufactured during the upcoming two decades, as indicated in Boeing's latest forecast published on Saturday. The total fleet will increase to 49,600 aircraft, slightly lower than Boeing's previous yearly prediction, the company announced before the commencement of the Paris Air Show on Monday. Developing markets "with expanding middle classes, dynamic and competitive airline networks and sustained aviation investment" will constitute over half of the commercial fleet by 2044, increasing from about 40 percent in 2024, according to Boeing. The report highlights the impact of post-pandemic supply chain challenges. "The supply chain has probably had a small role in our slight reduction in deliveries over the next 20 years," said Boeing vice president of Commercial Marketing Darren Hulst during a briefing last week, as quoted by AFP. This announcement preceded the Air India Boeing 787 Dreamliner crash in Ahmedabad on Thursday. In response to the incident, which claimed 279 lives, Boeing CEO Kelly Ortberg and commercial aircraft division head Stephanie Pope withdrew from the event. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thị trường có dấu hiệu suy thoái không? IC Markets Đăng ký Undo Boeing anticipates yearly passenger growth of 4.2 percent, surpassing the 2.3 percent annual GDP growth. "New aircraft deliveries haven't been able to keep up with the demand," Hulst said, estimating a "cumulative shortage" of approximately 1,500 to 2,000 aircraft. However, Hulst believes delivery rates to improve through the remainder of this decade. Of the 43,600 new aircraft needed through 2044, about 21,100 will substitute existing aircraft whilst 22,500 will address increasing demand in China and emerging markets. These statistics demonstrate substantial growth from 2004's global fleet of 16,780 aircraft. The industry's transformation is evident as the top 10 aviation firms in 2004 represented 45 percent of the global fleet, predominantly North American and European companies. Currently, the leading 10 companies comprise only 30 percent of the market, with increased representation from Asian and Middle Eastern organisations - regions previously unrepresented in the 2004 top rankings. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yomiuri Shimbun
14 hours ago
- Business
- Yomiuri Shimbun
Boeing Trims Projection for 20-year Jet Demand
Reuters file photo A worker walks past a Boeing logo before the opening of the 55th International Paris Airshow at Le Bourget Airport near Paris on Friday. June 15 (Reuters) — Boeing expects global demand for air travel to increase by more than 40% by 2030, driving the need for thousands of new jetliners in the next few years, according to its 20-year demand forecast for commercial airliners released Sunday ahead of the Paris Airshow. The company expects demand for 43,600 new airliners through 2044. That is essentially the same as last year's edition, which projected demand for 43,975 new deliveries through 2043. European rival Airbus last week revised up its own 20-year commercial demand forecast by 2% to 43,420 jets, saying the air transport industry was expected to ride out current trade tensions. Boeing's delivery projection includes nearly 33,300 single-aisle airliners, just over 7,800 widebody jets, 955 factory-built freighters and 1,545 regional jets. Single-aisle jets include the 737 MAX and competitor Airbus's A320neo family and make up roughly four of every five deliveries now. While Boeing's deliveries projection is roughly the same, it pared down its 20-year forecast for passenger traffic growth from 4.7% in last year's outlook to 4.2% this year. Likewise, it lowered its global economic growth forecast from 2.6% to 2.3%, cargo traffic growth from 4.1% to 3.7% and fleet growth from 3.2% to 3.1%. Despite the lower projection for cargo traffic, Boeing Vice President of Commercial Marketing Darren Hulst told reporters in a briefing that trade volatility is not expected to significantly shift long-term demand. 'I think we need to point back to the perspective that the last 20, 40, 60 years have given us in terms of the value of air cargo, and the fact that it's roughly a 4% growth market through all this time,' he said. Since COVID-19, air travel demand has bounced back, but airplane production is only half or even less than what it was before the pandemic, resulting in a shortage of 1,500 to 2,000 airliners, he said. Both Airbus and Boeing have struggled to return aircraft production to pre-pandemic levels. Boeing has been dealing with production safety concerns following a 2024 mid-air blowout of a panel on a nearly new Alaska Airlines 737 MAX. As a result, the U.S. Federal Aviation Administration capped 737 production at 38 airplanes a month. Boeing has significantly improved production quality in recent months, but the crash of an Air India Boeing 787-8 Dreamliner on Thursday put it back in crisis mode. CEO Kelly Ortberg canceled his plans to attend the Paris Airshow in order to assist with the crash investigation. Global air travel is projected to increase by more than 40% by 2030, compared to the pre-pandemic high, according to the forecast. During the next 20 years, Boeing expects about 51% of demand for new aircraft to come from growth rather than replacing older airplanes. China and South/Southeast Asia, which includes India, are expected to account for half of that additional capacity, according to the outlook. North America and Eurasia account for more than half of projected deliveries for replacing older aircraft. China makes up an estimated 10% of Boeing's existing order backlog. The country paused taking delivery of new Boeing aircraft as China and the U.S. clashed over tariffs. However, deliveries are expected to resume this month, Ortberg said in May during an investors conference.
New Straits Times
14 hours ago
- Business
- New Straits Times
Boeing lowers 2044 global air fleet outlook amid supply chain woes
NEW YORK: The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday. The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday. Emerging markets "with expanding middle classes, dynamic and competitive airline networks and sustained aviation investment" will represent more than 50 percent of the commercial fleet in 2044, up from nearly 40 percent in 2024, Boeing said. But the forecast also shows the effects of supply chain difficulties in the wake of the Covid-19 pandemic. "The supply chain has probably had a small role in our slight reduction in deliveries over the next 20 years," Boeing vice president of Commercial Marketing Darren Hulst said at a briefing on Tuesday. The briefing came before Thursday's deadly Air India crash of a Boeing 787 Dreamliner. Following the crash, which has killed at least 279 people, Boeing CEO Kelly Ortberg and commercial plane chief Stephanie Pope canceled plans to attend. The Boeing forecast projects annual passenger growth of 4.2 percent, above the 2.3 percent annual growth in GDP. "New aircraft deliveries haven't been able to keep up with the demand," said Hulst, who estimates that problem has resulted in a "cumulative shortage" of some 1,500 to 2,000 planes. But Hulst expects the cadence of deliveries to pick up between now and the end of the current decade. Of the 43,600 new planes required between now and 2044, an estimated 21,100 will replace existing fleet and 22,500 will be needed to address rising demand in China and emerging markets. These figures indicate an expected dramatic expansion of the global air fleet over four decades from 2004, when the fleet consisted of just 16,780 planes. In a sign of how the aviation market has changed, the 10 biggest aviation companies in 2004 accounted for 45 percent of the global fleet and were dominated by companies from North American and Europe. But today's top 10 account for just 30 percent of the market and are composed of a greater share of companies from Asia and the Middle East – a region that had no companies in the top 10 in the earlier period.
Time of India
15 hours ago
- Business
- Time of India
Boeing sees need for 43,600 new aircrafts by 2044 as air travel demand set to surge 40%
Boeing expects global demand for air travel to increase by more than 40% by 2030, driving the need for thousands of new jetliners in the next few years, according to its 20-year demand forecast for commercial airliners released Sunday ahead of the Paris Airshow. The company expects demand for 43,600 new airliners through 2044. That is essentially the same as last year's edition, which projected demand for 43,975 new deliveries through 2043. European rival Airbus last week revised up its own 20-year commercial demand forecast by 2% to 43,420 jets, saying the air transport industry was expected to ride out current trade tensions. Boeing's delivery projection includes nearly 33,300 single-aisle airliners, just over 7,800 widebody jets, 955 factory-built freighters and 1,545 regional jets. Single-aisle jets include the 737 MAX and competitor Airbus's A320neo family and make up roughly four of every five deliveries now. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nguyen Cu Trinh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo Also Read: Airbus sees global aircraft fleet doubling by 2044, led by India While Boeing's deliveries projection is roughly the same, it pared down its 20-year forecast for passenger traffic growth from 4.7% in last year's outlook to 4.2% this year. Likewise, it lowered its global economic growth forecast from 2.6% to 2.3%, cargo traffic growth from 4.1% to 3.7% and fleet growth from 3.2% to 3.1%. Live Events Despite the lower projection for cargo traffic, Boeing Vice President of Commercial Marketing Darren Hulst told reporters in a briefing that trade volatility is not expected to significantly shift long-term demand. "I think we need to point back to the perspective that the last 20, 40, 60 years have given us in terms of the value of air cargo, and the fact that it's roughly a 4% growth market through all this time," he said. Since COVID-19, air travel demand has bounced back, but airplane production is only half or even less than what it was before the pandemic, resulting in a shortage of 1,500 to 2,000 airliners, he said. Both Airbus and Boeing have struggled to return aircraft production to pre-pandemic levels. Boeing has been dealing with production safety concerns following a 2024 mid-air blowout of a panel on a nearly new Alaska Airlines 737 MAX. As a result, the U.S. Federal Aviation Administration capped 737 production at 38 airplanes a month. Boeing has significantly improved production quality in recent months, but the crash of an Air India Boeing 787-8 Dreamliner on Thursday put it back in crisis mode. CEO Kelly Ortberg cancelled his plans to attend the Paris Airshow in order to assist with the crash investigation. Global air travel is projected to increase by more than 40% by 2030, compared to the pre-pandemic high, according to the forecast. During the next 20 years, Boeing expects about 51% of demand for new aircraft to come from growth rather than replacing older airplanes. China and South/Southeast Asia, which includes India, are expected to account for half of that additional capacity, according to the outlook. North America and Eurasia account for more than half of projected deliveries for replacing older aircraft. China makes up an estimated 10% of Boeing's existing order backlog. The country paused taking delivery of new Boeing aircraft as China and the U.S. clashed over tariffs. However, deliveries are expected to resume this month, Ortberg said in May during an investors conference.
