Boeing's Bullish Market Outlook
Boeing believes that stable growth in the world economy will help the airline industry this year and expects a big upturn in demand from the Asia-Pacific region and Middle East over the next two decades. Boeing's latest market outlook predicts that the one-third of global aviation that currently passes through the Asia-Pacific region will blossom to 43 percent by 2029. The manufacturer says that airlines are seeing demand improve but are still plagued by the uncertainty of fuel prices. That uncertainty, according to Boeing, may help drive activity in more established markets like North America and Europe, where Boeing expects airlines to build upon existing fleets with more fuel-efficient aircraft. Boeing forecasts a market demand of $3.6 trillion over the next 20 years, bolstered by a recovering world economy. And growth trends may serve up some advantages for passengers.
Boeing believes airlines will adapt to public preferences by adding more flight options and greater access to a broader range of destinations at lower cost. According to Boeing, that means more efficient aircraft and more single-aisle smaller jets. That would be a continuance of the last decade's growth trend, which saw the single-aisle aircraft segment outpace long-haul markets.