Boeing predicts demand for more than 8,700 new aircraft in the European aviation market through 2040
Boeing [NYSE: BA] now expect a steady growth and greater sustainability of the European commercial aviation fleet over the next 20 years, with the vast majority of the existing fleet being replaced by more fuel efficient models. Thanks to low-cost carriers and a growing leisure travel market, European carriers will need 8,705 new aircraft worth â¬ 1.25 trillion / Â£ 1.1 trillion up to ‘in 2040, according to the 2021 Commercial Market Outlook (CMO), Boeing’s long-term forecast. demand for commercial aircraft and services.
Global and regional air transport markets are recovering largely as Boeing predicted last year. Demand for air travel in Europe is leading the recovery as health and travel restrictions ease, followed by long-haul travel returning to pre-pandemic levels by 2023 to 2024.
Reducing the carbon footprint of aviation remains a top priority for Boeing and for carriers in the European market. For short-haul routes, European airlines should invest more in new, higher-capacity single-aisle models that reduce fuel consumption and emissions. For long-haul fleets, airlines should take advantage of next-generation wide-body aircraft, such as the 787 and 777X, which dramatically improve efficiency. By 2040, 90% of Europe’s current fleet will be replaced by more fuel-efficient models, exceeding the global replacement share of 80%, according to the CMO.
“While Europe was significantly affected during the pandemic, coordinated policies within the region have unlocked a significant pent-up demand for air travel, leading to an acceleration of the recovery,” said Darren Hulst, vice president of the Boeing business marketing. âSingle-aisle aircraft will initially be the main driver of capacity expansion to meet demand in the region. In the long-haul segment, we see a tremendous opportunity for carriers to replace older, less efficient aircraft with more versatile twin-engine models that reduce fuel consumption, CO2 emissions and noise.
âBoeing is focused on a multi-faceted approach to decarbonizing aviation, underpinned by our efforts to inform regulatory policy and develop innovative partnerships around the world,â said Brian Moran, Boeing vice president for sustainable development policy and partnerships. âThe design and delivery of more fuel-efficient aircraft are the basis of this strategy and actively enable the industry’s transition to renewable energies with a focus on sustainable aviation fuels and advanced technologies. . “
The CMO also predicts that the European commercial aviation industry will need more than 405,000 new aviation personnel by 2040, including pilots, technicians and cabin crew.
The CMO Europe 2021 includes these projections until 2040:
- Passenger traffic is expected to increase by 3.1% per year, with fleet growth of 2.7%.
- Demand for 7,100 single-aisle aircraft will be driven by continued growth in the Low Cost Airline (LCC) segment, which now represents more than 50% of intra-European capacity.
- Demand for 1,545 new widebody, including passenger and cargo models, will serve long-haul networks, including point-to-point routes as well as hub-and-spoke routes.
- The global cargo fleet is expected to grow by 70% over the 20-year forecast period, including demand for 85 new cargo ships in Europe.
- Commercial aviation services market opportunities valued at nearly â¬ 1.6 trillion / Â£ 1.4 trillion
For Boeing’s global and regional forecasts, including data and analysis, visit the Commercial Market Outlook website.
As a world leader in aerospace, Boeing develops, manufactures and services commercial aircraft, defense products and space systems for customers in more than 150 countries. Boeing directly employs more than 5,500 people across Europe. The company has delivered 4,600 commercial aircraft to more than 130 European customers over the past 60 years and Boeing’s advanced defense platforms are in service with 23 European armed forces. In addition, Boeing provides unparalleled aerospace services to more than 350 European customers. Learn more at www.boeing.com.