Boeing, a leading aerospace manufacturer, forecasts a significant increase in the demand for wide-body jets over the next two decades, predicting that this surge will boost titanium demand and escalate the generation of scrap metal, a valuable resource in the aviation industry.
According to Boeing’s latest commercial market outlook, the global fleet of wide-body planes is expected to rise from the current 4,275 to 8,750 by 2043.
More than 90% of these new deliveries will be the larger twin-aisle jets, which require over twice as much titanium compared to narrow-body models.
In total, Boeing anticipates that manufacturers will deliver 43,975 commercial jets by 2043, reflecting a 3.2% increase from its 2023 outlook. In the same period, Airbus, a key competitor, raised its projections by 4% to 41,490 jets.
The demand for narrow-body models, such as Boeing’s 737 MAX, will make up 76% of the new orders at 33,380 units, while wide-body jets will account for 18% at 8,065 units. The remaining demand will be met by regional jets and freighters.
Boeing estimates that 47% (20,555 units) of new deliveries over the next 20 years will replace existing aircraft, with the global fleet projected to reach 50,170 jets by 2043.
The company predicts the most significant passenger traffic growth in South Asia, Southeast Asia, and Africa, driven by emerging markets returning to "historical growth trends." The largest demand for new planes will be in Eurasia, followed by North America and China.
This optimistic outlook is presented amidst Boeing’s stalled progress with its flagship 737 MAX program due to a federally mandated production cap. Additionally, the production of its wide-body 787 Dreamliner has lagged this year, as Boeing and the broader aerospace industry continue to face challenges from a supply chain still recovering from the Covid-19 pandemic.
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