Boeing projects 3% hike in airplane deliveries

US planemaker Boeing raised its industry-wide annual 20-year forecast for new jetliner deliveries by 3% to 43,975, propelled by the strength of passenger demand, rising airline competition and the eventual replacement of older less-efficient planes.

Aviation was hit hard by the pandemic that saw air travel collapse only to bounce back sharply. That has left many firms scrambling to resolve supply chain issues.

Boeing Vice President of Commercial Marketing Darren Hulst said the retirement rates of older airplanes dropped in half over the last four years “because of the lack of aircraft coming into the market.” Boeing says single-aisle airplanes will account for 33,380 deliveries – or 76% of forecast demand. Deliveries from now until 2043 are also expected to include 8,065 widebody planes, 1,525 regional jets and 1,005 freighters.

Boeing projects the global aircraft fleet to almost double over the next 20 years, from about 26,750 jets in 2023 to 50,170 by 2043.