[Aviation Today July 10, 2014] Boeing has raised its 20 year global aircraft demand forecast to 36,770, a 4 percent increase from the 2013 forecast. The airframe manufacturer raised its expectations based on demand in for single aisle passenger jets, which it sees as the fastest growing market segment over the next two decades.
Through the next 20 years, Boeing
is projecting demand for 25,680 new single aisle aircraft, or 70 percent of the total units in the forecast.
"Based on the overwhelming amount of orders and deliveries, we see the heart of the single-aisle market in the 160-seat range," said said Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes. "There's no question the market is converging to this size, where network flexibility and cost efficiency meet,"
Tinseth said the company's Next-Generation 737-800 and 737 MAX 8 offer the "most revenue potential in this mid-sized space." Demand remains strong for Boeing's most popular selling passenger too, as operators have placed orders for 490 total 737s in 2014 so far. Boeing's next best selling aircraft this year has been the 777 in a distant second place, garnering 157 total orders.
China will help drive demand for new commercial air frames over the next 20 years as well. Tinseth sees the continue growth of low costs carriers in China will drive more demand for 737s.
The lowest demand over the forecast period is for large wide body aircraft, as Boeing projects operators will purchase just 620 large wide body jets, valued at $240 billion.
"This market is strong and resilient," said Tinseth. "With new and more efficient airplanes entering service, the growth in air travel is being driven by customers who want to fly where they want, when they want.