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Air traffic demand is expected to outpace economic growth till 2043 as the manufacturing sector works through supply chain and production constraints, a recent Boeing Commercial Market Outlook report reveals. Demand for new airplane deliveries is projected to hit 44k by 2043.
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Air cargo consistently outperformed alternative modes of transport and is slated to grow by two-thirds by 2043, supporting the 4.1% annual growth in air cargo traffic. Over 1k freighter jets are slated for new delivery over the next 20 years.
MENA order books are packed: The region is getting more widebody aircraft, accounting for 44% of the total 8k global new widebody orders. The region is forecasted to see a 4.7% rise in air traffic over the next 20 years, according to the report (pdf), and is increasing its fleet with 3.1k new orders.
The aircraft services sector is expected to jump up in value to USD 4.4 tn, propelled by maintenance and modification options that improve efficiency. Regional air services are expected to rise by 4.6%, according to the report (pdf), and account for some USD 390 bn in market value by 2043.
Leading the way: Emirates’ cargo arm Emirates SkyCargo placed a USD 1 bn order for five Boeing 777 freighters in July, slated for delivery between 2025 and 2026. Qatar Airways inked an agreement with Boeing in the same month to add 20 777-9 carriers to its order book, on top of its existing order of 40 Boeing 777-9s.
Africa’s commercial aircraft fleet will double by 2043, as population growth spurs an increase in air travel by 6.4%, Boeing says in its report. Some 82% of the nearly 1.2k new jet deliveries to African airlines by 2043 will be for growth, the highest ratio of any region globally. This includes 15 freighter jets. The new aircraft are slated to “serve many routes in the continent’s largest aviation markets, including Europe, the Middle East and within Africa,” said regional commercial marketing managing director Shahab Matin.
China’s aviation market to boom: Boeing expects China’s commercial jet fleet to more than double in the next 20 years to 9,740 planes to meet growing passenger and air cargo demand. Around 60% of China’s new deliveries will be directed towards fleet expansion, while the rest will replace older jets. Boeing also said that China will need 8,830 new planes through 2043 to meet demand, an increase from its previous forecast of 8,560 commercial aircraft in 2042.
