ONDON: US planemaker Boeing hiked its 20-year market forecast,
predicting demand for 34,000 new aircraft worth $4.5 trillion, on growth in
emerging regions and as airlines seek efficient new planes to counter high fuel
costs.
Many airlines are facing tough conditions as consumers and businesses in austerity-hit regions cut back on travel, while high fuel prices are taking their toll on profit.
"I don't think there's any question that the forecast reflects the economic struggles we see today in some of the mature markets,- Randy Tinseth, vice-president marketing at Boeing Commercial Airplanes, told a media briefing in London. The forecast did not take into account a possible collapse of the euro or the exit of any euro member, Tinseth said.
"We're looking at a world economy, where, especially over the next few years, we slog through the situation here in Europe and then once you get into the 2014 time frame and beyond, you see more normal economic growth.-
Boeing said yesterday the market for new planes would become more geographically balanced over the next two decades, with the Asia-Pacific region leading the way in deliveries, as markets like China and Indiacontinued to grow.
The company had last year forecast demand for 33,500 new passenger aircraft and freighters worth $4 trillion by 2030.
"Robust growth in China, India and other emerging markets is a major factor in the increased deliveries over the next 20 years,- Boeing said.
Airline traffic to grow
The company said airline traffic was forecast to grow at a five per cent annual rate over the next 20 years, with cargo traffic seen growing at a rate of 5.2 per cent.
It saw the world fleet doubling over the next two decades.
"Low-cost carriers, with their ability to stimulate traffic with low fares, are growing faster than the market as a whole,- the company said.
Replacement aircraft
Boeing said there was strong demand to replace older, less fuel-efficient aircraft, with replacements accounting for 41 per cent of new deliveries in the forecast, which runs to 2031.
There would be strong demand for replacement aircraft from Europe, the United States and Russia, Tinseth said.
The company said it saw a market for 23,240 single-aisle aircraft over the next two decades -” a category that includes its 737 and rival Airbus's A320 -” worth $2.03 trillion.
Many airlines are facing tough conditions as consumers and businesses in austerity-hit regions cut back on travel, while high fuel prices are taking their toll on profit.
"I don't think there's any question that the forecast reflects the economic struggles we see today in some of the mature markets,- Randy Tinseth, vice-president marketing at Boeing Commercial Airplanes, told a media briefing in London. The forecast did not take into account a possible collapse of the euro or the exit of any euro member, Tinseth said.
"We're looking at a world economy, where, especially over the next few years, we slog through the situation here in Europe and then once you get into the 2014 time frame and beyond, you see more normal economic growth.-
Boeing said yesterday the market for new planes would become more geographically balanced over the next two decades, with the Asia-Pacific region leading the way in deliveries, as markets like China and Indiacontinued to grow.
The company had last year forecast demand for 33,500 new passenger aircraft and freighters worth $4 trillion by 2030.
"Robust growth in China, India and other emerging markets is a major factor in the increased deliveries over the next 20 years,- Boeing said.
Airline traffic to grow
The company said airline traffic was forecast to grow at a five per cent annual rate over the next 20 years, with cargo traffic seen growing at a rate of 5.2 per cent.
It saw the world fleet doubling over the next two decades.
"Low-cost carriers, with their ability to stimulate traffic with low fares, are growing faster than the market as a whole,- the company said.
Replacement aircraft
Boeing said there was strong demand to replace older, less fuel-efficient aircraft, with replacements accounting for 41 per cent of new deliveries in the forecast, which runs to 2031.
There would be strong demand for replacement aircraft from Europe, the United States and Russia, Tinseth said.
The company said it saw a market for 23,240 single-aisle aircraft over the next two decades -” a category that includes its 737 and rival Airbus's A320 -” worth $2.03 trillion.
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