Boeing Forecasts Steady Market Growth for Airliners in Africa
The African economy is projected to grow 4.8 percent in 2010. “This strong growth results from worldwide recovery stimulating demand for African exports as well as imports into the continent. West Africa shows the strongest growth with foreign interest in petroleum development,” said Boeing.
“As the demand for African commodities grows and foreign development and tourism increase, African carriers will require a modernized fleet in order to compete on routes historically dominated by foreign carriers,” said Mike Warner, senior market analyst for Boeing Commercial Airplanes.
According to Warner, Africa’s current fleet is nearly 20 years old on average in a market that demands more fuel-efficient airplanes to help offset the rising cost of fuel.
The U.S.-based company is expecting the delivery of more than 700 airplanes with a value of approximately $80 billion for the African airplane market over the next 20 years.
Boeing forecasts that twin-aisle airplanes will account for 32 percent of new airplanes delivered to African carriers over the next 20 years compared to 23 percent worldwide. Single-aisle airplanes will represent 60 percent of the African new-airplane market, compared to 69 percent worldwide.