Forecasts Include $9 Trillion Aerospace Market Opportunities

Boeing forecasts $9 trillion aerospace market opportunities in commercial, defense and services over next decade. The annual report is Boeing's analysis of long-term market dynamics.

Over the next decade, the 2021 BMO shows $9 trillion addressable market, which is an increase from $8.5 trillion in 2020

The 2021 Boeing Market Outlook  commercial airplanes and services are showing signs of recovery, while the global defense, space and government services markets have remained stable.

"As our industry recovers and continues to adapt to meet new global needs, we remain confident in long-term growth for aerospace," said Boeing Chief Strategy Officer Marc Allen. "We are encouraged by the fact that scientists have delivered vaccines more rapidly than imaginable and that passengers are demonstrating strong confidence in airplane travel."

The new Commercial Market Outlook demonstrates that the global market is recovering largely as Boeing projected in 2020. Domestic air travel leads the way, followed by long-haul travel's return to pre-pandemic levels by 2023 to 2024.

Within the Boeing Market Outlook, the CMO projects 10-year global demand for 19,000 commercial airplanes valued at $3.2 trillion. Boeing's 20-year commercial forecast through 2040 projects demand for more than 43,500 new airplanes valued at $7.2 trillion, an increase of about 500 planes over last year's forecast.

Demand has increased for dedicated freighters, including new and converted models. CMO projects the global freighter fleet in 2040 will be 70% larger than the pre-pandemic fleet.

"The aerospace industry has made important progress in the recovery, and Boeing's 2021 forecast reflects our confidence in the resilience of the market," said Stan Deal, president and CEO, Boeing Commercial Airplanes. "While we remain realistic about ongoing challenges, the past year has shown that passenger traffic rebounds swiftly when the flying public and governments have confidence in health and safety during air travel. Our industry continues to serve an essential role of bringing people together and transporting critical supplies."

Countries with higher vaccine availability have shown a quicker return to air travel.

The full report which includes reports from Defence and Space, Services, World Air Cargo, Aircraft Finance, and Pilot and Technician reports is accessible in the link below.

FMI: https://www.boeing.com/market