Boeing has published its forecasts for the next 20 years, predicting 3.1% growth for Europe’s passenger traffic.
According to Boeing, the airline industry is already on the path to recovery. The aircraft manufacturer forecasts that over the next 20 years, European carriers will need 8,705 new airplanes valued at €1.25 trillion to sustain growth, especially fuelled by a fast expanding leisure travel market.
Demand for air travel within Europe is leading the recovery as health and travel restrictions ease, followed by long-haul travel’s return to pre-pandemic levels by 2023 to 2024.
Reducing aviation’s carbon footprint remains a top priority for Boeing and for carriers in the European market. For short-haul routes, European airlines are expected to further invest in new, higher-capacity single-aisle models that reduce fuel use and emissions. For long-haul fleets, airlines are projected to leverage new-generation widebodies, such as the B787 and B777X with improved efficiency. By 2040, 90% of Europe’s current fleet will be replaced with more fuel-efficient models.
“While Europe was significantly impacted during the pandemic, coordinated policies within the region have unlocked significant pent-up demand for air travel, resulting in an accelerating recovery,” said Darren Hulst, Boeing’s vice president, Commercial Marketing.
In its Commercial Outlook 2021, Boeing projects for Europe a growth of 3.1% per year for passenger traffic up to 2040 with fleet growth of 2.7%. Demand for 7,100 single-aisle airplanes will be driven by continued growth in the low-cost carrier segment that now accounts for more than 50% of intra-Europe capacity. Demand for 1,545 new wide-bodies will serve long-haul networks.
Photo – top pf page: Boeing sees European air transport growth fuelled by low-cost and leisure traffic (LC/Cleverdis)