Boeing forecasts ‘aviation opportunities’ in Africa
Posted on 07 Nov 2021 and read 977 times
forecasts that by 2040 Africa’s airlines will require 1,030 new aeroplanes valued at $160 billion, and aftermarket services — such as manufacturing and repair — worth $235 billion. Boeing shared the projection as part of its 2021 Commercial Market Outlook (CMO), the company’s long-term assessment of demand for commercial aircraft and services.
Boeing says Africa’s strong, long-term growth prospects for commercial aviation are closely tied to the continent’s projected 3% annual economic growth over the next 20 years. Initiatives such as the African Continental Free Trade Area and Single African Air Transport Market are expected to stimulate trade, air travel and economic cooperation.
Randy Heisey, Boeing’s managing director of commercial marketing for the Middle East and Africa, said: “Africa has healthy opportunities to expand travel and tourism, coinciding with increasing urbanisation and rising incomes.
“African carriers are well-positioned to support inter-regional traffic growth and capture market share by offering services that efficiently connect passengers and enable commerce within the continent.”
Meanwhile, Boeing’s CMO forecast of 20-year demand for commercial airplanes and services in the Middle East says that airlines will require 3,000 new aeroplanes valued at $700 billion and aftermarket services worth $740 billion, with the region “positioned to capitalise on the recovery of regional and international travel and cargo demand”.
Boeing says Middle East passenger traffic and the region’s commercial fleet are projected to more than double over the 20-year forecast period, with more than two-thirds of airplane deliveries to the Middle East accommodating growth, while one-third of deliveries will replace older airplanes with more-fuel-efficient models.
The complete CMO forecast is available at the website (www.boeing.com/commercial/market/commercial-market-outlook