Boeing hikes long-term aircraft market forecast by 8%

Boeing hiked Thursday its long-term forecast for the size of the commercial aircraft market by eight percent, estimating it at 33,500 planes worth $4.0 trillion over the next 20 years.

"The long-range forecast for 2011 anticipates delivery of 33,500 new airplanes over the next 20 years, valued at more than $4.0 trillion," the US company said on its website.

Boeing said its long-range forecasts, which cover both passenger and cargo aircraft, have historically turned out to be conservative.

It said single-aisle aircraft will account for the majority of deliveries over the next 20 years - 70 percent of the airplanes and 48 percent of the value.

"Rapidly expanding air service within China and other emerging economies and the spread of low-cost carrier (LCC) business models throughout the world drive this market segment," said Boeing.

However the market for efficient long-range twin-aisle aircraft is likely to be the fastest growing segment, accounting for 22 percent of the delivery units and 43 percent of the value. "High fuel costs are compelling airlines to accelerate replacement of older airplanes," said the manufacturer.

"In addition, the increased capabilities of the latest long-range, twin-aisle airplanes create opportunities for operators to take advantage of the ongoing liberalisation of air transport markets to open new nonstop routes." PARIS, Thursday, AFP