And that means production lines will be busy for years to come.
Boeing forecasts demand for nearly 36,800 airplanes worth about $5.2 trillion, according to the latest forecast, which covers 2013 to 2033.
The annual outlook, which was released early Thursday, is nearly the same as last year’s but includes some tweaks. The new version nudged up the number of new passengers — from 4.1 percent to 4.2 percent — while moving down expansion in freight traffic from 5 percent to 4.7 percent.
More important, though, is that all factors — world economy, new passengers, airline traffic and cargo traffic — are expected to grow, according to Boeing.
Single-aisle airplanes, such as Boeing’s 737 and Airbus Group’s A320, make up about 70 percent of expected new orders, but the $2.5 trillion value for the projected 25,000 orders is only about 48 percent of the overall market.
Twin-aisle airplanes, such as the 777 and 787, make up about 21 percent of projected orders — about 8,500 — but are also worth about $2.5 trillion.
The remaining demand is for regional jetliners such as those built by Bombardier and Embraer. Boeing’s forecast includes nearly 2,500 orders worth about $100 billion.
Boeing has been doing market forecasts since the 1950s and tends to err on the conservative side, said Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes.
“There’s always bumps” in the market, but that shouldn’t significantly affect production rates, he said.
And the company over-books orders, knowing some will inevitably be canceled, delayed or converted to orders for different Boeing airplanes, he said.
That is a key reason that “we can keep our production going at regular and dependable rates,” Tinseth said.
Dan Catchpole: 425-339-3454; email@example.com; Twitter: @dcatchpole.
MORE HBJ HEADLINES
Premera Blue Cross says data breach could affect 11M people 1:02 p.m. Boeing is top winner of state, local tax breaks Starbucks baristas serve up conversation about race along with coffee 2:01 p.m. Boeing’s S.C. plant delivers its first 787-9 GOP says Obama aides meddled in ‘net neutrality’ 2:03 p.m. Ikea nixes massive hide and seek games at Dutch stores 2:02 p.m.
Our new comment system is not supported in IE 7. Please upgrade your browser here.