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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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London, the United Kingdom - July 3, 2012
- World fleet expected to double over next 20 years
- Strong demand for new, efficient aircraft
- Emerging economies leading growth
Boeing (NYSE: BA)
projects a $4.5 trillion market for 34,000 new airplanes over the next 20 years as the current world fleet doubles in size, according to the Boeing 2012 Current Market Outlook (CMO) released today.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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The company's annual forecast reflects the strength of the commercial aviation market.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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"The world's aviation market is broader, deeper and more diverse than we've ever seen it," said
Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes.
"It has proven to be resilient even during some very challenging years and is driving production rate increases across the board."
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Airline traffic is forecasted to grow at a 5 percent annual rate over the next two decades, with cargo traffic projected to grow at an annual rate of 5.2 percent.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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The single-aisle market, served by Boeing's Next-Generation 737 and the future 737 MAX, will continue its robust growth.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Widebodies, such as Boeing's 747-8, 777 and 787 Dreamliner, will account for almost $2.5 trillion dollars worth of new airplane deliveries with 40 percent of the demand for these long-range airplanes coming from Asian airlines.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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New Airplane Deliveries: 2012-2031
Airplane Type Total Deliveries Dollar Value
Single-aisle 23,240 $2,030B
Twin-aisle 7,950 $2,080B
Large 790 $280B
Regional jets 2,020 $80B
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Robust growth in China, India and other emerging markets is a major factor in the increased deliveries over the next 20 years.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Low cost carriers, with their ability to stimulate traffic with low fares, are growing faster than the market as a whole.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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There is also a strong demand to replace older, less fuel-efficient airplanes.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Replacement accounts for 41 percent of new deliveries in the forecast.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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The market for new airplanes is set to become more geographically balanced in the next two decades.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Asia-Pacific, including China, will continue to lead the way in total airplane deliveries.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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New Airplane Deliveries: 2012-2031
Region Airplanes
Asia Pacific 12,030
Europe 7,760
North America 7,290
Latin America 2,510
Middle East 2,370
C.I.S. 1,140
Africa 900
World Total 34,000
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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"It's incredible to see just how much air travel has changed since I took my first flight back in 1977," said
Tinseth.
"It has become critical to business and something we do for pleasure, to connect with family and friends. As the market continues to grow, especially in emerging economies, air travel will become affordable to even more people."
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Freighter Fleet Forecast: 2012 to 2031
As the cargo market remains sluggish, Boeing has revised downward its projection for freighters over the next 20 years.
Still, the world freighter fleet is projected to nearly double from 1,740 aircraft today to 3,200 at the end of the forecast period.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Additions to the fleet will include 940 new-production freighters (market value of $250 billion) and 1,820 airplanes converted from passenger models.
Large (more than 88.2 tons capacity / 80 tonnes) freighters will account for 680 new-build airplanes.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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Medium (44.1 to 88.2 tons / 40 to 80 tonnes) freighters will total 260 airplanes.
No new standard-body freighters (49.6 tons / less than 45 tonnes) will be required, but there will be 1,120 standard-body conversions.
About the Boeing Current Market Outlook
Since the beginning of the jet age, Boeing has produced a long-term market outlook which was first shared publicly in the early 1960s.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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The CMO is the longest running complete worldwide jet forecast and is regarded as the most respected and comprehensive analysis of the aviation industry.
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The Boeing 2012 Current Market Outlook
Courtesy of Boeing |
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The report and a feature, which provides an interactive database of forecast numbers, can be found at
www.boeing.com/cmo
Contact:
Doug Alder
Boeing Media Relations
+1 206 660 2978
doug.alder-jr@boeing.com
SOURCE: The Boeing Company
http://boeing.mediaroom.com/
Randy Tinseth
Vice President of Marketing, Boeing Commercial Airplanes
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Randy Tinseth
Courtesy of Boeing |
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Randy Tinseth has been with Boeing for more than 28 years - in a number of areas, including engineering, sales, and marketing.
His wide-ranging background gives him a unique perspective on all things Commercial Airplanes.
Appointed vice president, Marketing, for Boeing Commercial Airplanes in April 2007, Randy frequently travels the globe sharing our view of the market and spreading the word about Boeing’s products and services.
A big part of the job involves understanding and communicating market requirements, our market outlook, and supporting market positioning and sales activities.
He meets with financial analysts, industry observers, and airline customers, and talks with reporters in the aviation and business news media.
Randy Tinseth began his career at Boeing in June 1981, as a flight test engineer.
He joined the Marketing team in 1989, in the Airplane Economics Group, working as part of the team that implemented new versions of Boeing’s aircraft maintenance and operating cost models.
Since he loves “crunching” numbers, this was a great fit.
From 1997 - 2001, Randy served as a Boeing sales director in North America, leading BCA efforts at United Airlines, Northwest Airlines, UPS, and Spirit Airlines.
He left Sales to lead the Product Marketing team, marketing Boeing’s commercial airplanes and services to airlines, financial institutions, and other groups.
During this time, the Marketing team launched the new 787 livery, the “Name Your Plane” effort which led to the selection of the Dreamliner name, and the “newairplane.com” Web site.
Just prior to taking on his role as V.P., Marketing, Randy was Customers Leader for the 747-8 Program, developing marketing and in-service support strategies for the new 747-8 program, and helping to prepare the market and refine the focus on the -8 family.
Randy grew up in Kalispell, Montana.
He holds a bachelor’s degree in electrical engineering from Cornell University – an Ivy League education for a boy from a little town in Montana.
In 1986, after a lot of night classes, he received an MBA from Seattle University.
He’s been married to Ellen for more than 20 years and has three children.
He enjoys getting out on the water - swimming, boating, and floating.
He also enjoys snow skiing and golf, and “tries” to vacation at least two weeks a year at the family cabin on a lake.
SOURCE: The Boeing Company
http://boeingblogs.com/randy/about.html
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