Boeing owes its staggering demand from airlines globally to its problem-solving aircraft manufacturing and designs. With its sights on the Indian aviation market, Boeing is expected to announce attractive aircraft designs suitable for the Indian market’s needs.
Boeing is a force to be reckoned with in the global aviation industry. The multinational company was founded in 1916 and is the world’s largest aerospace company. The aircraft manufacturer leads in designing, manufacturing, and selling commercial aircraft, rockets, space systems, and other aircraft components for various global clients, including defence, space, and security bodies.
Boeing works closely with airlines to provide innovative aircraft to render multiple aviation services to the airlines’ customers. Hence, most airlines today boast of having Boeing aircraft in their fleets.
Beyond The US Borders
In recent years, the company has had a fluctuating increase and decrease in orders for its top-tier aircraft beyond the US borders. Irrespective of the fluctuation, Boeing’s Commercial Market Outlook (CMO) forecast for 2022–2041 has the following long-term global trend for new aircraft per region:
- The Asian region is expected to account for 40% of the global trend.
- The European region is expected to account for over 20% of the global trend.
- The North American region is expected to account for slightly over 20% of the long-term global trend.
- Other regions are expected to account for about 15% of the long-term global trend.
The statistics above strongly indicate Boeing’s healthy growth beyond the US borders. These figures may change as many old and new airlines seek a partnership with the aviation giant.
Eyes on India
As India becomes the most populated nation in the world, it is expected to contribute significantly to Asia’s global trend for new Boeing aircraft. India’s population growth will support Boeing’s speculation that India will need over 2,200 new aircraft over the next twenty years. Boeing’s management has seen India as a golden opportunity for growth, with top Indian airlines like IndiGo, Air India Express, Air India, and Vistara already in partnership with Boeing.
As India’s population grows, so will the demand for air-travel services domestically and internationally, leading to a simultaneous increase in demand for Boeing aircraft. The Indian aviation market is promising a bullish ride for the aerospace company that gets in early, and Boeing intends to be that aerospace company.
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