by InvestorPlace Staff | February 13, 2012 9:32 am
The Singapore air show doesn’t officially begin until Tuesday, but on Monday Boeing (NYSE:BA) already started making news. In a press conference, Boeing’s vice president for commercial planes Randy Tinseth said the giant planemaker sees the global airline industry needing some 33,500 new aircraft within the next 18 years. That would be worth about $4 trillion dollars.
In the Asia-Pacific region alone, Tinseth said carriers would be looking to add 11,450 new aircraft, worth $1.5 trillion, by 2030. “This is the largest market in the world for single-aisle airplanes… for twin-aisle airplanes… for big airplanes. Any way you look at it, this is a big, big market, and this is a growth market,” said the Boeing executive in an Associated Press report.
Of that massive total of new planes, Boeing estimates that 40% would be replacement aircraft for older planes. The rest is seen as meeting the demand for growth. In 2010, the world’s airline fleet counted 19,410 planes, according to Boeing.
In addition to the long-range airplane demand forecast, Tinseth is also reported to have said Boeing is mulling a larger-capacity version of its new midsize 787 Dreamliner. Called the 787-10X, it would seat up to 320 passengers, or 40 more than the 787-9 model.
The first-generation of Dreamliners have been repeatedly delayed as Boeing experiences production mishaps. Japan Airlines is still waiting to take delivery of its first 787 after several delays. United Continental (NYSE:UAL), which counted on getting six Dreamliners this year, likely will feel the impact of further delays. Delta (NYSE:DAL), which also has 787s on order, has pushed back delivery of those jets to 2020.
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