Boeing report predicts $4 trillion market for new aircraft

That’s according to the Boeing 2011 Current Market Outlook (CMO), which was released yesterday in Paris.

The company’s annual commercial aviation market analysis foresees a market for 33,500 new passenger aircraft and freighters between 2011 and 2030.

Passenger traffic is expected to grow at 5.1 per cent annual rate over the long term and the world fleet is expected to double by 2030.

The single-aisle market will continue to see strong demand around the world and is expected to increase its share of the market.

Fleet composition will change significantly by 2030 with single-aisle jets making up 70 per cent of the total.

China, which has experienced double-digit growth in gross domestic product in recent years, is forecasted to grow at seven per cent per annum, while south Asia, which includes India, is forecast to grow at 7.1 per cent.

Asia Pacific is forecasted to need the most new aircraft over the next 20 years and will represent the largest market by value of deliveries at more than $1.5 trillion. The region will account for more than a third of new deliveries worldwide, while the Middle East and Latin America will also continue to show very strong growth.