According to recent estimates released by Boeing, the global number of commercial planes in service is expected to double in the next 20 years, reaching 48,575 planes by 2042, compared to 24,500 in the previous year. This surge in demand will necessitate the production of 42,595 planes across all manufacturers, with approximately half intended to replace existing aircraft and the remaining half to accommodate growth.
Boeing’s projections indicate that North America will account for 23 percent of the new planes, closely followed by the Asia-Pacific region at 22 percent. Eurasia is anticipated to claim 21 percent, while China alone is projected to make up 20 percent of the total. In comparison, rival manufacturer Airbus expects demand for 40,850 new passenger and cargo planes by 2042, resulting in a total world fleet of 46,560 aircraft.
Boeing’s head of commercial marketing, Darren Hulst, expects significant economic expansion over the next two decades, lifting an additional 500 million people into the middle class and creating more potential air passengers.
Additionally, Boeing foresees substantial growth for low-cost carriers, projecting their size to more than double over the next 20 years, albeit at a slower pace compared to the previous two decades. The demand for cargo planes is also expected to remain robust, with air cargo traffic growth outpacing overall global trade growth, according to Boeing’s predictions.