Annual Passenger Aircraft Deliveries To Exceed $100bn in 2024

Annual Passenger Aircraft Deliveries To Exceed $100bn in 2024
Photo Credit: James Field/AviationSource

According to data from Cirium, annual passenger aircraft deliveries will exceed the valuation of $100bn in 2024.

Between 2023-2042, the analytics firm predicts that 45,200 passenger aircraft will be delivered at a staggering value of $3.2tn.

Without further ado, let’s get into it…

Annual Passenger Aircraft Deliveries To Exceed $100bn in 2024…

Annual Passenger Aircraft Deliveries To Exceed $100bn in 2024
Photo Credit: James Field/AviationSource

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Of the 45,200 passenger aircraft due to be delivered between 2023-2042, this is broken down into the following:

  • Turboprop = 2,110 aircraft.
  • Regional Jet = 2,935 aircraft.
  • Single-Aisle = 32,880 jets.
  • Twin-Aisle = 7,275 jets.
  • Freighter = 1,060 aircraft.

Rob Morris, Head of Consultancy, at Cirium Ascend Consultancy said the following on these numbers:

“With global traffic almost back to 2019 levels, the increased levels of order activity in 2023 shows that the airline industry’s new growth cycle is gaining momentum. The 2023 Cirium Fleet Forecast predicts new deliveries will total $3.2 trillion over the next 20 years.”

“The CFF capacity modelling gives an independent view of future demand for aircraft and questions such as: are higher single-aisle production volumes justified?”

“What will be shares between A321neo and 737-10, A350-1000 and 777-9, A350F and 777-8F? Airbus and Boeing are forecast to take almost 90% of the market but when could they introduce new programmes and what market share will new Chinese programmes take?”.

Looking ahead, all eyes will be on how the next two decades will go, and whether these forecasts will be accurate or not.

In the wake of ever-increasing passenger demand, such forecasts are very reasonable, and will include the aspect of fleet renewal and expansion too.

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