Aircraft manufacturer Boeing expects demand for more than 42,000 new airplanes over the next 20 years, buoyed by the recovery of the global aviation industry from the Covid-19 pandemic.
Boeing, through its latest Commercial Market Outlook report, notes that the global aviation industry remains firmly on track to return to pre-pandemic traffic levels this year.
The projections for the recovery of the global aviation industry are hinged on increasing tourism demand and increased service levels, particularly in developing markets. In addition, the changing supply chain models and the growth of e-commerce have continued to drive robust demand for dedicated freighters.
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The easing of global travel restrictions has helped international markets to recover quickly, with wide-bodied aircrafts playing an essential role in connecting global markets and accounting for nearly a fifth of all airplane deliveries over the next two decades.
According to the airline, markets such as North America and Europe are projected to see slower than global average growth in the forecast. In contrast, emerging aviation markets in Asia are in higher-growth phases of network, infrastructure and airline development and will see above average growth over the next two decades.
“These varying trajectories are driving a more geographically balanced global aviation market in the long-term,” notes Boeing’s report.
The report notes that despite constraints caused by labour shortages, supply chain issues and operational restrictions at airports, passenger traffic is set to return to 2019 levels over the course of the next 12-18 months.
According to the report many airlines are assessing their future networks and simplifying their fleet to improve operations and reduce costs, for instance, almost 40 percent of airlines have removed at least one airplane family from their active fleet since 2019.
Source: The East African
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