In a recent press release on July 20, 2024, Boeing projected a 3% increase in airplane deliveries over the next 20 years, anticipating the need for nearly 44,000 new commercial airplanes by 2043. The 2024 Commercial Market Outlook (CMO) released by Boeing highlights the growing demand for air travel, with global single-aisle market demand and emerging markets serving as primary growth drivers for the industry.
Air travel demand has fully recovered and is exceeding pre-pandemic levels, with passenger air traffic expected to rise by an average of 4.7% annually over the next two decades. Despite ongoing challenges such as supply chain constraints, the aviation industry remains resilient and continues to grow. Boeing’s senior vice president of Commercial Sales and Marketing, Brad McMullen, emphasized the inspiring era for aviation and the industry’s adaptability to dynamic market conditions.
Key highlights from the CMO forecast through 2043 include the projected growth of the global commercial fleet, the increasing demand for air cargo fleet, and the rise of international passenger traffic in regions like South Asia, Southeast Asia, and Africa. Single-aisle airplanes are expected to dominate the fleet composition, accounting for 71% of deliveries by 2043 to serve short- to medium-haul routes efficiently.
Boeing also anticipates a significant increase in the demand for commercial services valued at $4.4 trillion, driven by maintenance, modification options, and digital solutions to enhance operational efficiency. The expansion of air travel, particularly in emerging markets, is expected to create a demand for nearly 2.4 million new personnel, including pilots, maintenance technicians, and cabin crew.
The complete analysis and outlook provided by Boeing in the CMO is considered a comprehensive and authoritative resource for the commercial aviation industry, published annually since 1961. For more information on the outlook and Boeing’s contributions to the aerospace sector, visit their website at boeing.com/cmo.
Boeing, as a leading global aerospace company, is committed to innovation, sustainability, and economic development through its diverse team of employees and global supplier base. To explore career opportunities with Boeing and join their mission-driven team, visit boeing.com/careers.
For media inquiries or additional information, please contact Boeing Media Relations.
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