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Time of India
a day 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
New Straits Times
a day 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.
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Business Standard
a day ago
- Business
- Business Standard
Boeing sees need for 43,600 new aircrafts, cautions on slow output
The US planemaker is slightly less bullish than a year ago as, when it estimated that 43,975 planes would enter the global fleet, reflecting a tempering of forecasts for global economic growth Bloomberg Boeing Co. predicted airlines will need 43,600 new aircraft over the next 20 years, with markets like China and Southeast Asia leading the push as greater prosperity gives more people the means to travel. However, the US planemaker is slightly less bullish than a year ago as — when it estimated that 43,975 planes would enter the global fleet — reflecting a tempering of forecasts for global economic growth. While trade wars and tariffs initiated by President Donald Trump are roiling the global economy, the aviation industry has weathered other crises and geopolitcal turmoil over the decades, most notably the corona pandemic that grounded fleets around the world just a few years ago. Over the past 25 years, air travel tripled while the global fleet doubled, Darren Hulst, Boeing vice president of commercial market, told reporters in a June 10 briefing. 'At the end of the day, our market has proven to be both resilient and a growth industry,' Hulst said. Boeing expects the global commercial aircraft fleet to double to 49,600 airplanes by 2044, in line with the market outlook provided a few days ago by Airbus SE, its European rival. Airlines in emerging markets will operate more than half of the world's jetliners by then, up from nearly 40% in 2024, according to Boeing. Single-aisle aircraft will expand their hold on air travel, accounting for 72% of the global fleet over the next two decades, Boeing forecasts. That's up from 66% in the current fleet. For airlines mapping out their growth trajectory, narrowbody models like Airbus's A320neo family and Boeing's 737 Max are frustratingly difficult to line up. That's because air travel has grown sharply since the Covid pandemic, whereas Boeing and Airbus are sputtering along at manufacturing rates similar to their output a decade ago. The result is a shortage of current-generation jetliners. The duopolists have made about 1,500 fewer jets than they'd originally planned — and the shortfall will continue to grow the longer it takes them to catch up, Hulst said. Bridging the gap between supply and demand will hinge on the planemakers' ability to return to pre-pandemic delivery levels, 'and then actually exceed those over the medium term,' Hulst said. 'And that probably takes at least until the end of the decade.'
