Over the 2004-2023 period, world passenger traffic is forecast to increase by 5.3% per annum. This traffic growth, combined with fleet renewal, will require delivery of 16,601 new passenger aircraft.
17,328 new passenger and freighter aircraft deliveries The number of passenger aircraft in service will double from a fleet of 10,838 at year end 2003 to 21,759 in 2023.
Passenger airlines will replace 9,200 aircraft, of which 3,520 will be recycled back into passenger service, 2,412 will be converted to freighters, with the remaining 3,268 aircraft permanently withdrawn from service over the forecast period.
Freight traffic is expected to grow at 5.9% per annum over the 2004-2023 period. Traffic growth and fleet renewal will create a demand for 3,139 freighter deliveries, of which 727, or 23%, will be factory-built freighters.
The world’s airlines are forecast to take delivery of 17,328 new passenger and freighter aircraft over the next 20 years, equating to average annual deliveries of 866 aircraft.