On July 20th, Boeing released its 2024 Civil Aviation Market Outlook (CMO), stating that global airlines will need nearly 44000 new civil aircraft by 2043. The outlook also predicts that emerging markets and global single channel market demand will continue to be the main growth drivers for the civil aviation industry.
Brad McMullen, Senior Vice President of Sales for Boeing's Civil Aviation Market, said, "This is a challenging and inspiring era for the aviation industry. While we are addressing supply chain and production constraints, as well as other global challenges, the recovery of traffic growth to more normal levels demonstrates the resilience of our industry
Boeing predicts that the global civilian fleet is expected to grow by 3.2% annually; The cargo fleet will increase by two-thirds by 2043 to support an annual growth of 4.1% in air cargo volume. The average ticket price of global airlines is almost the same as 20 years ago, and the number of routes served by global airlines has returned to the level of 2019, with nearly 20% being new routes, reflecting the adaptability of the aviation industry in a dynamic market.
According to CMO, single aisle aircraft are expected to account for 71% of the fleet by 2043, with a total of 33380 new aircraft delivered previously due to their flexibility in serving short and medium haul routes. The global wide body fleet will more than double, with dual aisle aircraft accounting for 44% of the Middle Eastern fleet. Boeing also expects the value of demand for civil aviation services to be $4.4 trillion, driven by maintenance, modification solutions, and digital solutions to improve efficiency. With the expansion of air travel, especially in emerging markets, the civil aviation industry will require nearly 2.4 million new personnel and related training to support new pilots, maintenance personnel, and flight attendants.