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Bloomberg
Boeing Co. is tempering expectations for commercial aircraft demand in the coming decades, as the prospect of lower global economic growth and uncertainty surrounding Russia pressure jet deliveries.
Manufacturers will hand over 41,170 new planes to customers through 2041, Boeing predicted in its latest long-term outlook for the commercial market. That would mark a slower pace than it saw a year ago, when the planemaker said there would be 43,610 deliveries in the 20-year period through 2040. Boeing also trimmed its forecast for annual passenger traffic growth to 3.8% from 4%.
The softened outlook highlights how geopolitical and economic turmoil could have lasting effects in commercial aerospace. Boeing rival Airbus similarly eased its expectations for passenger demand over the next two decades, citing rising energy costs. Boeing also expects a lower rate of global economic growth through 2041 than it did last year, which also translates into less demand for new jets, said Darren Hulst, Boeing’s vice president of commercial marketing.
Despite the broad worries, demand for cargo jets remains strong, with the global fleet expected to grow to 3,610 planes from 2,010 in 2019.