Boeing Cuts Down 20-Year Projection On Aircraft Production

U.S. aircraft manufacturer Boeing Co. reduced its predicted industry-wide demand for aircraft over the next 20 years, but said it expects deliveries to remain constant outside of the Russian market, David Shepardson reported for Reuters.

Photo Insert: Boeing increased its demand forecast for the next decade to 19,575 aircraft deliveries, a higher estimate even without the Russian market.

Boeing predicts that airlines around the world will require 41,170 new airplanes over the next two decades, with around 75 percent of these planes being single-aisle aircraft.

Boeing's updated market estimate, unveiled on Sunday in advance of the British Farnborough Airshow, is lower than its prior rolling 20-year forecast of 43,610 deliveries.

The new estimate excludes the Russian market and its expectation of 1,540 aircraft due to the conflict in Ukraine and the uncertainty of when manufacturers would be able to resume selling aircraft to Russian carriers.

Boeing increased its demand forecast for the next decade to 19,575 aircraft deliveries, a higher estimate even without the Russian market.

"That's a function of a depressed environment in 2021 falling off and a new trend year in 2031 being added," Darren Hulst, Boeing vice president for commercial marketing, told reporters in a briefing ahead of the Sunday release.

"It comes very close to our 2019" outlook if Russia was included.

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