Boeing raises 2030 global outlook

Middle East carriers, under Boeing's revised 20-year outlook, will receive 180 additional aircraft by 2030 as the US planemaker yesterday increased its long-term forecast by eight per cent for the global commercial aircraft market, estimating it at 33,500 planes worth $4 trillion (Dh14.68 trillion) between 2011 and 2030. The updated forecast comes just ahead of the week-long Paris Air Show which kicks off on Monday, indicating a strong increase in demand. In May, Boeing forecast in its 2011 Current Market Outlook that global demand over the next 20 years would be 31,000 planes valued at $3.6 trillion. According to the revised outlook, the region's carriers will now receive 2,520 new aircraft by 2030 against the previously projected 2,340 worth $390 billion, the Chicago-based plane manufacturer said yesterday in a statement on its website. It added that of the total market, single-aisle aircraft such as Boeing's 737NG (next generation) and the Airbus A320 will account for the majority of deliveries over the 20-year-period 70 per cent of aircraft and 48 per cent of the value. The market for single-aisle planes in the Middle East will account for 47 per cent of new supply over the 20-year period. Twin-aisle aircraft will account for 43 per cent (compared to 25 per cent globally), followed by large airplanes such as the Boeing 747 that will account for seven per cent, and regional jets, which will account for the remaining three per cent, Randy Tinseth, vice-president of marketing at Boeing Commercial Airplanes, recently said. "The world market has recovered and is now expanding at a significant rate," he said in a statement yesterday, adding that there is a "strong demand" for air travel and new airplanes today. "Also, the fundamental drivers of air travel including economic growth, world trade and liberalisation all point to a healthy long-term demand," Tinseth said. Meanwhile, passenger traffic is expected to grow 5.1 per cent annually over the long term and the world fleet is expected to double by 2030, according to Boeing, as "robust growth in China, India and other emerging markets will lead to a more balanced airplane demand worldwide". With the Asia-Pacific region predicted to need the most new airplanes over the next 20 years, thereby accounting for "more than a third of new deliveries worldwide", the Middle East and Latin America will "also continue to show very strong growth", Boeing said in the statement. Boeing has 47 customers in the region that operate an estimated 1,200 flights per day with 423 aeroplanes. And as of April, Boeing had a backlog of 3,445 airplanes valued at $263 million, 15 per cent of which have been ordered by customers in the Middle East, according to Tinseth. Boeing said it projects the global freighter fleet to increase from 1,760 to 3,500 airplanes in the period 2011-2030, with additions to the fleet including 970 new-production freighters (market value $250 billion) and 1,990 airplanes converted from passenger models. The company said that on average over the next 20 years, air cargo traffic will grow at a rate of 5.6 per cent. From / Gulf News