Boeing forecasts that Africa’s airlines will require 1,030 new airplanes by 2040 valued at $160 billion and aftermarket services such as manufacturing and repair worth $235 billion.
Boeingshared the projection as part of the 2021 Commercial Market Outlook (CMO), the company’s long-term assessment of demand for commercial airplanes and services.
“Africa’s strong, long-term growth prospects for commercial aviation are closely tied to the continent’s projected 3 percent annual economic growth over the next 20 years. Initiatives such as the African Continental Free Trade Area and Single African Air Transport Market are expected to stimulate trade, air travel and economic cooperation. Additionally, the region’s middle class and working population are projected to double by the end of the forecast period, driving increased demand for air travel,” according to the Boeing release.
Randy Heisey, Boeing managing director of Commercial Marketing for the Middle East and Africa, said, “African carriers are well-positioned to support inter-regional traffic growth and capture market share by offering services that efficiently connect passengers and enable commerce within the continent.”
