Boeing lifts 20-year industry demand forecast to $6.8 trillion
By Eric M. Johnson LE BOURGET, France (Reuters) - Boeing Co raised its rolling 20-year industry forecast for passenger aircraft by 3% on Monday, fuelled by strong air traffic predictions, though global geopolitical and economic risks could upset the rosy outlook. The world's largest planemaker said at the Paris Airshow it expected 44,040 new airplane deliveries over the next two decades, up from the roughly 43,000 it forecast a year ago
By Eric M. Johnson
LE BOURGET, France (Reuters) - Boeing Co raised its rolling 20-year industry forecast for passenger aircraft by 3% on Monday, fuelled by strong air traffic predictions, though global geopolitical and economic risks could upset the rosy outlook.
The world's largest planemaker said at the Paris Airshow it expected 44,040 new airplane deliveries over the next two decades, up from the roughly 43,000 it forecast a year ago.
That would be worth $6.8 trillion over the next two decades at list prices versus last year's $6.3 trillion prediction.
Dominating that tally is a roughly 3% increase in the forecast for single-aisle aircraft, such as the Airbus A320 family and the competing Boeing 737 MAX which remains grounded in the wake of two deadly crashes.
The forecast is underpinned by a prediction for average global traffic growth of 4.6 percent, down fractionally from the 4.7 percent projected last year.
The $3.8 trillion single-aisle market is driven to a large degree by strong demand in the Asia Pacific travel market, Boeing said, though the Chicago-based manufacturer is exposed to slowing economies, trade tensions and geopolitical uncertainties.
Boeing now sees 32,420 deliveries in the medium-haul, single-aisle category, which is the cash cow of the world's two largest planemakers and popular with low-cost airlines, the jetmaker said.
In the wide-body segment, Boeing sees demand for 8,340 new passenger airplanes valued at more than $2.6 trillion over the next two decades, up 270 from the 8,070 it forecast last year, driven by airlines' need to refresh their fleets and growth in demand for longer-haul air travel.
(Reporting by Eric M. Johnson; Editing by Mark Potter)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.