Northwest Aerospace News PNAA 2021 ADVANCE | Page 85

Although the CMO typically focuses on 20-year demand , our forecast included 10-year data as well to show anticipated near- , medium- and long-term growth trends .
Our CMO projections include : » 10-year demand for 18,350 commercial airplanes , which is 11 % lower than our comparable 2019 forecast . Over 20 years , reflecting long-term recovery , Boeing projects market demand for 43,110 new airplanes , down 2 % from our 2019 forecast .
» Single-aisle demand will recover sooner due to its key role in short-haul routes and domestic markets as well as passenger preference for point-to-point service .
» Widebody demand will be affected by a typically slower recovery in long-haul markets as well as uncertainties from COVID-19 ’ s impact on international travel .
» Air cargo demand , a relative bright spot in 2020 , is expected to grow 4 % annually over our forecast ’ s 20- year period .
» In the $ 3.3 trillion addressable 10-year market for commercial aviation services , digital solutions will be a critical enabler for leaner operations , and lifecycle services and support will help customers scale operations to meet efficiency and cost objectives .
In the 2000s , people wondered if commercial aviation would ever be the same . Yet within a few years of shocks such as 9 / 11 and the SARS pandemic and Global Financial Crisis , traffic returned to the 5 % annual growth trend . An industry that was healthy and vital to the world ’ s transportation system before the pandemic will continue to play a crucial role in the global economy , from enabling distribution of vaccines to bringing people together for business and to see friends , family and destinations around the world .
The current crisis is deeper and recovery will take longer – but if recovery doesn ’ t happen , it will be the first time ever . Boeing remains optimistic about aviation ’ s future because history has proven air travel ’ s value and resilience time and time again .

PNAA ADVANCE / 2021

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PNAA ADVANCE / 2021
FEBRUARY | MARCH 2021 ISSUE NO . 19 85