With demand rebounding for both domestic and international air travel Boeing is projecting demand for more than 41,000 new airplanes through 2041.
The aircraft manufacturer released its 2022 Commercial Market Outlook (CMO), the company's annual long-term forecast, in advance of the Farnborough International Airshow.
Boeing says the CMO has been the industry standard for insights into the future of air travel since 1961 and annually provides valuable analysis to airlines, suppliers and the aviation community.
The 2022 CMO reflects the sharp recovery in the global aviation market. Demand for domestic air travel has made a strong recovery across a number of regions, with international traffic gaining momentum as restrictions ease, tracking to return to pre-pandemic levels by 2023 to 2024.
"Despite the unprecedented disruption over the past two years, the aviation industry has shown incredible resilience adapting to the challenge," said Ihssane Mounir, Boeing's SVP of Commercial Sales and Marketing.
"The 2022 CMO draws upon our expertise forecasting market trends to demonstrate the strong demand for new airplanes and related services in the coming decades, providing a waypoint as the industry continues to navigate its recovery."
2022 Boeing CMO forecast highlights include:
-- Many domestic markets are nearly or fully recovered from pandemic impact, while international traffic gains momentum as restrictions ease.
-- The CMO forecasts a market value of $7.2 trillion for new airplane deliveries, with the global fleet increasing by 80% through 2041 compared to 2019 pre-pandemic levels.
-- Approximately half of passenger jet deliveries will replace today's models, improving the global fleet's fuel efficiency and sustainability.
-- Continuing a strong growth story, Asian markets account for roughly 40% of long-term global demand for new airplanes. Europe and North America each account for just over 20% of demand, with 15% of deliveries going to other regions.
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