Boeing: growing air travel requires 42,730 new jets

8/31/2018 8:17:54 AM

Aircraft manufacturer Boeing expects air travel will show strong growth in the next two decades. To deal with this, commercial aviation will need 42,730 new jets in the next 20 years.

Boeing presented its forecasts for the airline industry at the recently Farnborough 2018 air show. BreakingTravelNews reports that Boeing expects that rising passenger traffic and upcoming airplane retirements drive the need for new jets – valued at $6.3 trillion.

The new, 2018 outlook projects the total number of airplanes increasing 4.1 percent over the previous forecast, largely due to economies growing in every region of the world. A Boeing executive sees strong traffic trends not only in the emerging markets of China and India, but also the mature markets of Europe and North America.

Furthermore, according to international airline fleet data, there are currently about 900 airplanes that are over 25 years old. By the mid 2020’s, more than 500 airplanes a year will reach 25 years of age, fueling a ‘retirement wave’.

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