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FARNBOROUGH: Boeing renews forecast of 4.7% annual demand growth

Boeing's annual update to a running 20-year forecast suggests the industry's strong demand cycle shows no sign of slowing over the long term.

The company's current market outlook predicts that passenger demand will grow by 4.7% per year over the next 20 years, reflecting the same growth outlook as in Boeing's forecast last year.

That growth will drive demand for 42,700 aircraft deliveries, with a total market value of $6.1 trillion over the forecast period, or an annual average of 2,135 aircraft, including regional jets, single-aisles, widebodies and freighters.

Demand continues to be led by the narrowbody market, accounting for 73% of total deliveries, or 3,160 aircraft. Boeing also expects airlines to take delivery of 8,070 widebodies in the period up to 2037, a 19% share of the deliveries. Another 2,320 regional jets, or 5% of the total, will also be delivered, Boeing forecasts.

Deliveries of new freighters will total 980 aircraft over the forecast period, Boeing says. It adds that another 1,670 aircraft will be converted from passenger airliners to freighters.

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