Boeing Joins Airbus, Bombardier, As Bullish On Outlook
Accounting for today's economic challenges, Boeing is projecting a 20-year global market worth $3.2 trillion for 29,400 new, more fuel-efficient commercial aircraft. While twin-aisle jets will make up the largest dollar share of the market, smaller single-aisle jets are expected to account for more than half of the demand. By 2027, Boeing forecasts a worldwide fleet of 35,800 aircraft, building from today's world total of roughly 19,000. The long-term market (and, presumably, manufacturers), according to Boeing, will be less vulnerable to regional economic downturns as a result of a more globally distributed demand. Boeing has seen increases in the Asia-Pacific region as well as the Middle East and Latin America, among others. Boeing's bullish forecast reflects reflections by Airbus, that China alone will need $329 billion worth of aircraft by 2026 and Bombardier's recent forecast, which expects demand to rise unabated through 2017. Bombardier's forecast that we reported in May represented an increase in demand of 33 percent over its forecast of the previous year.