Includes Area In Current Market Outlook For First Time
Russia and the
Commonwealth of Independent States (CIS) will require 1,060 new
airplanes worth about $70 billion over the next 20 years, according
to Boeing's updated annual forecast for the commercial airplane
market.
The complete forecast, known as the Boeing Current Market
Outlook, was released Wednesday. This year marks the first year
that Boeing has published its forecast for the Russia/CIS region as
part of the Current Market Outlook.
Airplanes in the Boeing 737 size range will account for 44
percent of all commercial jetliners delivered to Russian and CIS
airlines during the next 20 years, amounting to 470 units valued at
$30 billion.
Eleven percent -- or 110 units at a value of $20 billion -- will
be twin-aisle airplanes like the Boeing 777 and 787.
Forty-three percent will be smaller regional jets while
airplanes of the Boeing 747 size or larger will comprise 2 percent
of the market.
"We will witness significant growth in the demand for air travel
as the economies of Russia and the CIS continue to expand," said
Craig Jones, vice president of Sales for Russia/CIS, Boeing
Commercial Airplanes. "Both domestic and international air traffic
has increased in Russia and the CIS by 36 percent over the last 10
years. Most indicators point toward continued economic growth for
the region."
"We've already seen airlines like Aeroflot and S7 Airlines in
Russia, AeroSvit in the Ukraine, Azerbaijan Airlines and Uzbekistan
Airways order new single-aisle and twin-aisle airplanes this year.
We can expect continued steady demand for new airplanes as airlines
look to modernize and grow their fleets," Jones said.
"Liberalization of air traffic regulations, airline
consolidation and the reduction or elimination of high tariffs on
new airplanes could generate additional demand for new
airplanes."
The flying public's demand for more point-to-point travel
options will also stimulate demand for smaller airplanes. In the
past, large airplanes like the 747 were the only airplanes able to
fly very long distances. This forced large numbers of passengers to
make connections through major hubs to get to their ultimate
destinations, through what is called the hub-and-spoke system.
As smaller airplanes are much more fuel efficient thanks to
advanced technologies and innovation, they are able to fly longer
distances with fewer passengers than a 747 and still remain
profitable for the airlines that operate them.
Those newer airplanes also help meet increased demand, Boeing
says, while also lowering airplane emissions compared to older
aircraft.
"Today aviation represents two percent of global emissions while
contributing eight percent to the world economy. It's a small
percentage, but nonetheless we are committed to continuing to find
ways to reduce the environmental impact of our products," Jones
said.
Air traffic within Russia and the CIS is expected to grow 6
percent per year over the next 20 years. Traffic on transatlantic
routes between Russia/CIS and North America is projected to
increase 4.1 percent annually.
Worldwide, Boeing estimates the fleet will require 28,600 new
jets by 2026 worth about $2.8 trillion.