Boeing Commercial Market Outlook: Growth, Versatility, Deliveries

A Resilient Industry

The report in some ways shrugs off the effects of the COVID-19 pandemic. “While aviation has seen periodic demand shocks since the beginning of the Jet Age, our industry has recovered from these downturns every time.” In Boeing’s view, it should take about three years for air travel to return to 2019 levels. And it may be an additional three or four years for the industry to return to its long-term growth trends.

“Aviation remains an integral part of transportation systems around the world. The maturation of many emerging market economies will further increases consumer spending’s share of economic activity, bolstering demand for air travel. In addition, coming out of every crisis, the industry has innovated by improving service and value for the traveling public.”

Versatile Fleets

Another trend described in the Outlook is fleet versatility. The market disruption caused by COVID-19 will determine how airlines configure their fleets long into the future. In deciding how to make decisions and resume growth, most airlines will likely look at putting together versatile fleets that “provide future network flexibility, maximizing capability while minimizing risk, and improving efficiency and sustainability.”

And some good news for those who are looking to work in the industry. Boeing sees a demand for a total of 117,000 commercial pilots, cabin crew members, and aviation technicians.