Market Outlook by Boeing

On June 17, 2019, Boeing unveiled its Commercial Market Outlook (CMO) for this year, a longer-term forecast that delves deeper into the market for commercial airplanes and services. The newest CMO shows growing passenger volumes and increasing airplane retirements will drive the need for 44,040 new jets, valued at $6.8 trillion over the next two decades and up three percent from a year ago. The global commercial airplane fleet will also sustain the need for aviation services valued at $9.1 trillion, leading to a total commercial market opportunity of $16 trillion through 2038.

Of the new airplane deliveries, forecasters say 44 percent will go toward replacing ageing aircraft while the rest will accommodate traffic growth. Together, the new jets will support an industry where passenger traffic will grow at an average 4.6 per cent and cargo traffic at an average 4.2 per cent. Factoring in the new airplanes and the jets that would remain in service, the global commercial fleet is expected to reach 50,660 airplanes by 2038. This is the first time the projected fleet has crested the 50,000 mark.