Boeing Forecasts $8T Global Demand for New Commercial Jets by 2042

Ahead of the 54th Paris Air Show, Boeing has published its 2023 Commercial Market Outlook (CMO), projecting global demand for 42,595 new commercial jets, valued at $8 trillion, by 2042. The breakdown by type includes 1,810 Regional Jets, 32,420 Single-Aisle, 7,440 Widebody, and 925 Freighters.

The 2023 CMO also forecasts a total served market for Commercial Services worth $3.8 trillion, including MRO & Modifications, Training & Pilot Services, Digital Solutions & Analytics, and Parts & Distribution Services. Additionally, the CMO projects a need for 2,277,000 new personnel.

Air cargo demand is expected to continue to outpace global trade growth, requiring carriers to acquire 2,800 dedicated freighters. In passenger travel, the growth of low-cost carriers (LCCs) is driving down fares and making travel more accessible. According to Boeing’s 20-year forecast, LCCs currently operate 36% of the global single-aisle fleet, and this is expected to rise to over 40% and nearly half of all single-aisle seats by 2042.