» Boeing projects $700 billion commercial airplanes market in North America
Boeing forecasts that air carriers in North America will take delivery of about 7,200 new airplanes over the next 20 years at an investment of $700 billion. New airplane deliveries in Canada and the United States will be driven largely by the need to retire older, less fuel-efficient single-aisle airplanes and regional jets, as airlines replace them with new-generation, more fuel-efficient models. (For the purposes of the Boeing forecast, the North America market consists of the U.S. and Canada. Mexico is included in Boeing's forecast for Latin America.).
"North America is a large, mature market, and we expect passenger traffic for the region to grow at a modest rate of 3.4%," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes, who released Boeing's 2010 North America market outlook on September 2nd in Montreal. "The fast-paced lifestyles in Canada and the U.S. require rapid, frequent and reliable coast-to-coast and interregional transportation. Driven by this demand, nearly three-quarters of the new deliveries over the next 20 years will be single-aisle airplanes."
Taking retirements of airplanes into account, the North America fleet will grow from 6,590 airplanes today to about 9,000 airplanes by 2029. Boeing forecasts that single-aisle airplanes will grow from 56% of the total North America fleet today to 71% of the fleet by 2029. Airlines are increasingly focusing on airplane age as fuel-thirsty, older airplanes weigh increasingly on earnings. Increased attention to aviation's impact on global climate change also will be a factor in selecting airplanes that produce lower carbon emissions.
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