Boeing is predicting a growth in aircraft demand in Africa with the airframer forecasting the need for 1,030 new airplanes between now and 2040, valued at 160 billion US dollars and an aftermarket services such as manufacturing and repair worth 235 billion US dollars.
The company shared the projection as part of the 2021 Commercial Market Outlook (CMO), its long-term assessment of demand for commercial airplanes and services.
According to the forecast, airlines in Africa will grow their fleets by 3.6 percent per year to accommodate passenger traffic growth of 5.4 percent annually, the third-highest growth rate in the world, according to the CMO.
SAATM, AfCFTA key to stimulate trade
The company disclosed that initiatives such as the African Continental Free Trade Area and Single African Air Transport Market (SAATM) 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 Boeing.
“Africa has healthy opportunities to expand travel and tourism, coinciding with increasing urbanization and rising incomes,” said Randy Heisey, Boeing managing director of Commercial Marketing for the Middle East and Africa.
“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.”
Single-aisle jets are expected to account for more than 70 percent of commercial deliveries, with 740 new planes mainly supporting domestic and inter-regional demand.
In addition, African carriers are estimated to need 250 new wide-body aircraft, including passenger and cargo models, to support long-haul routes and air freight growth, Boeing said.
Moreover, Eighty percent of the continent’s jet deliveries are expected to serve fleet growth with more sustainable, fuel-efficient models such as the 737, 777X, and 787 Dreamliner, with 20% of deliveries replacing older airplanes.
The estimated demand for aviation personnel is projected to rise to 63,000 new professionals, including 19,000 pilots, 20,000 technicians, and 24,000 cabin crew members. Commercial services opportunities such as supply chain, manufacturing, repair, and overhaul are valued at $235 billion.
By victor Shalton Odhiambo