Chicago planemaker Boeing says pandemic will cut demands of plane for a decade

by   |  VIEW 1863

Chicago planemaker Boeing says pandemic will cut demands of plane for a decade

Boeing Co., the long-hailed American multinational aerospace company that had lost its bearing following a mass grounding of its best-selling MAX 737 last year, said late on Tuesday that the demands for new planes would unlikely to gather pace for at least a decade as the pandemic outbreak continued to telescope air travels.

Aside from that, the Chicago, Illinois-based aerospace company which had handed over its global aviation industry crown to Europe’s Airbus SE last year amid a steeper drag in new orders and deliveries, had forecasted that the global commercial aviation industry would require an approximated 18,350 aircrafts over the next decade, remarking an 11% or $200 billion decline in valuation from its last year’s forecast.

Boeing Co. keeps long-term demand forecast unchanged

Nonetheless, although the world’s largest low-cost aircraft carrier manufacturer Boeing Co. had predicted a slide in aviation industry valuation to $2.9 trillion over the next decade, the Chicago-headquartered planemaker had stuck on to its longer-term demand forecast, since Boeing Co.

had been quoted saying at its statement that an increase in air travel in Asia would create a market of more than 43,000 carriers over the next two decades. However, Boeing Co.

Vice President of commercial marketing, Darren Hulst had acknowledged that its latest prediction on longer-term carrier demands had been designed on the basis of prior records including a recovery of aviation industry following the terrorist attack of 9/11.

In tandem, the Chicago-based American multinational planemaker Boeing Co., which had slashed thousands of jobs this year as airlines across the world found themselves with more carriers than they might require amid a global-scale travel restriction aimed at containing the pandemic outbreak, had also added at its statement that the global aviation industry would likely to require at least three years to reach a pre-pandemic level.

More than a half of Boeing Co. revenues were stemmed from its defence and space business this year thus far, while the planemaker had also predicted that the global demand for military planes, satellites, drones and other devices would surge to $2.6 trillion over the next decade.