Paris, France - Boeing revealed its new forecast at the Paris Air Show for commercial aircraft needed in the next 20 years. The American manufacturer increased its projection to 44,040 aircraft from 43,000 for the next two decades.
Boeing said today at the opening of the Paris Air Show that it was expecting 44,040 new aircraft order in the next 20 years, which stands for a $6.8 trillion market. It is roughly 1000 aircraft more than the manufacturer's previous forecast announced last year.
The forecast is based on the increase in the average global traffic growth each year. This year the global air traffic increased by 4.6%, according to the International Air Transport Association (IATA).
As stated by Boeing, the $3.8 trillion of this will go to the single-aisle jet market, which is led mainly by strong demand from the Asia Pacific market. Boeing says its forecast takes into account the slowing economies, trade wars, and geopolitical risks.
Boeing expects 32,420 single-aisle jet deliveries in this period, which is the main profit source for both itself and the rival Airbus.
The American manufacturer is currently struggling to bring its grounded 737 MAXs back to service after two fatal crashes that the aircraft was involved in less than half a year. It's still unclear if Boeing will be able to regain the trust of the airlines and its passengers.
In the wide-body segment, there will be a market need for 8,340 new jets, in the wake of increasing demand for non-stop long-haul flights from travelers.