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Boeing Forecasts Slight Decline in Widebody Aircraft Demand Over 20 Years

Boeing Forecasts Slight Decline in Widebody Aircraft Demand Over 20 Years
Boeing has released its latest Commercial Market Outlook (CMO), projecting a global demand for 43,600 new commercial aircraft deliveries over the next two decades. This forecast, unveiled on June 14 ahead of the Paris Air Show, indicates a growing dominance of narrowbody jets in the market, capturing an even larger share than previously anticipated.
Market Growth and Delivery Projections
The updated forecast anticipates the global fleet of commercial jets with 50 or more seats will expand at an average annual rate of 3.1% through 2044, increasing from 27,150 aircraft today to 49,640. Deliveries are expected to be nearly evenly divided between replacing aging aircraft, accounting for 21,100 units, and expanding overall capacity, with 22,500 new aircraft. Of the total projected deliveries, 33,285 will be single-aisle aircraft, 7,815 widebodies, 1,545 regional jets, and 955 freighters.
Compared to the previous year’s outlook, the 2024 forecast reflects a slight reduction in total deliveries and a more pronounced 3.3% decrease in widebody aircraft demand. Last year, Boeing anticipated 43,975 total deliveries, including 8,065 widebodies. The company attributes this decline primarily to the slower recovery of long-haul travel following the COVID-19 pandemic and the heightened vulnerability of long-haul routes to external risks.
“Long haul has absolutely been slower to recover from the pandemic shutdowns,” said Darren Hulst, Boeing’s vice president of commercial marketing. “We’ve evaluated the long-term demand for widebody jets to be slightly lower than we did last year. The different risks involved with long-haul travel are just more sensitive to external factors than short-haul travel. But from a big picture standpoint, it’s a relatively minor reduction ... that’s why we do these outlooks every single year.”
Industry Implications and Economic Assumptions
The modest decline in widebody demand may have broader implications for the aerospace industry, potentially affecting production rates, workforce levels, and supplier dynamics. Airlines and manufacturers might reconsider their investment strategies in response to these shifts. Meanwhile, competitors such as Airbus, which has also trimmed its 20-year forecast to 43,420 deliveries, are expected to emphasize their own growth projections and market positioning. The narrowing demand for widebodies is likely to intensify competition within the narrowbody segment, which is poised to dominate future fleet expansion.
Boeing’s forecast is underpinned by an anticipated average annual global GDP growth of 2.3%, a slight decrease from the 2.6% projected in last year’s outlook. The company also expects revenue passenger kilometer (RPK) growth of 4.2% and cargo ton kilometer (CTK) growth of 3.7%, both marginally lower than previous estimates.
Challenges and Outlook
Boeing continues to grapple with supply chain disruptions and delivery shortfalls, particularly those stemming from the 737 MAX grounding and production slowdowns since 2019. The company estimates a delivery deficit of approximately 1,500 aircraft, including 1,200 narrowbodies and 300 widebodies, attributable to these challenges. Additional factors influencing the revised outlook include the delayed certification of the 777-9, now anticipated to enter service in 2026, and reduced deliveries to China amid ongoing trade tensions.
Despite these headwinds, Boeing’s projections remain broadly aligned with those of Airbus, reflecting a cautious yet steady outlook for the commercial aviation sector over the next 20 years.

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