Boeing has now released its commercial market outlook to 2039, detailing a near-term focus on fleet renewal and a long-term focus on fleet versatility and growth.
Globally, Boeing forecasts 43,110 deliveries by 2039, representing a fleet growth of 3.2%. To enable this growth, it is predicting a 4.0% growth in passenger traffic and an average growth in GDP of 2.5% over the outlook period. The company believes that airlines will focus on building versatile fleets, ensuring maximum network flexibility, for lower cost and improved efficiency. Narrow-body airplanes are expected to recover faster, as domestic and short haul routes return first. This will be followed by widebody airplanes, as and when long-haul flights resume.
Over the next 20 years, Boeing anticipates Southeast Asia will require 4,400 new airplanes, valued at USD 700M. It predicts that the region will be the fifth largest aviation market by 2039 and the vast domestic and regional air-travel network in place will enable a strong post-pandemic recovery. Passenger traffic in the region is predicted to grow by 5.7% annually throughout the forecast period to 2039, making Southeast Asia the second largest aviation market in the Asia-Pacific region after China.