Bullish aircraft order forecast from Boeing

Bullish aircraft order forecast from Boeing

Demand in China, India and other emerging markets will lead to aircraft orders worth $4.5 trillion over the next 20 years, Boeing forecasts.

Airlines worldwide will buy 34,000 new aircraft in the next two decades, the US manufacturer predicts.

Around a third of the aircraft will be sold in the Asia Pacific region, followed by Europe and North America.

Boeing forecast that airline traffic would grow at an annual rate of 5% over the next two decades.

Low-cost carriers will also boost demand while replacements for older aircraft will make up 41% of new deliveries.

Boeing commercial aircraft marketing vice president Randy Tinseth said: "The world's aviation market is broader, deeper and more diverse than we've ever seen it.

"It has proven to be resilient even during some very challenging years and is driving production rate increases across the board.”

The company added: "Robust growth in China, India and other emerging markets is a major factor in the increased deliveries over the next 20 years.”

Wide body aircraft such as the 787 Dreamliner are expected to account for nearly $2.5 trillion worth of new deliveries with 40% of the demand coming from Asia.

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