CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Boeing forecasts US$9 trillion aerospace market

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Boeing has released its forecast for the commercial, defence and space aerospace market over the next decade.

The “2021 Boeing Market Outlook” (BMO), Boeing’s analysis of long-term market dynamics, finds that commercial airplanes and services are showing signs of recovery, while the global defence, space and government services markets have remained stable.

The BMO projects a US$9 trillion market over the next decade for the kinds of aerospace products and services that Boeing provides. That’s up from the US$8.5 trillion forecast issued this time last year, and also up from the US$8.7 trillion figure issued in the pre-pandemic 2019 forecast. This trend reflects the market’s continued recovery, Boeing says.

“As our industry recovers and continues to adapt to meet new global needs, we remain confident in long-term growth for aerospace,” said Boeing chief strategy officer Marc Allen. “We are encouraged by the fact that scientists have delivered vaccines more rapidly than imaginable and that passengers are demonstrating strong confidence in airplane travel.”

Read the full Boeing announcement.

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