Boeing on Tuesday unveiled its updated Current Market Outlook (CMO) for July 2012. The CMO details Boeing’s outlook for demand of commercial airplanes in general, as well as how Boeing’s own product offerings fit into this equation.
As expected, the report highlighted the potential growth of the industry. Boeing predicts airlines will be requesting 34,000 new commercial airplanes in the next 20 years, valued at $4.5 trillion. 59% of those new airplanes (19,890 total planes) would be based on growth of the industry, not replacement of old aircraft, according to the report.
The biggest growth factor is the Asia Pacific markets, which are predicted to grow 6.7% per year for the next 20 years. Boeing also stated that it currently is the market leader in commercial airplanes, with 50% of sales, beating out Airbus’ smaller, but growing 31%. Boeing also stated that their backlog validates the Chicago-based company’s strategy.
The report finished with a homage to 1977, the year that served as the baseline for many comparisons throughout the report. The Sex Pistols, Fleetwood Mac, The Clash, The Supremes, and The Bee Gees all had big events that year, from firings to Emmy award-winning albums. Elvis Presley also died in August of that year.
