Twenty Year Forecast Values Africa Commercial Aviation Market At Nearly $400Bln - Boeing

WASHINGTON (UrduPoint News / Sputnik - 22nd October, 2021) The value of Africa's commercial airline market is projected to grow to nearly $400 billion in the next two decades, with the purchase of more than a thousand new aircraft for regional travel and long-haul flights, Boeing said on Thursday.

"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, enabling growth for air travel and economies across the continent," Boeing said in a press release.

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, the release said.

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, the release added.

In addition, African carriers are estimated to need 250 new widebodies, including passenger and cargo models, to support long-haul routes and air freight growth, according to the release.

The forecast is included in Boeing's 2021 Commercial Market Outlook - the company's long-term assessment of demand for commercial airplanes and services.