A new study by Boeing predicts that the world aircraft fleet will double over the next two decades, as reported by Air Cargo World.
According to the news source, Boeing predicts that passenger and cargo traffic will increase by 5 percent, thus resulting in demand for 35,000 new airplanes worth $4.8 trillion.
This is positive news for an industry that has been forced to contend with a global economic slowdown, rising fuel prices and increased competition from ground and sea transportation. Randy Tinseth, Boeing's vice president of marketing, said that airlines have spent the last few years changing how they do their business.
"Our customers are focused on growing their networks, managing their capacity and investing in new fleets," Tinseth said. "These trends will shape market demand for airplanes that have highly efficiency, low operating costs, environmentally progressive technologies and a great passenger experience. We believe Boeing's current and future products are perfectly aligned to meet those needs."
A large portion of the future fleets will be made up by wide-body aircraft such as the Boeing 747-8, 777 and 787 Dreamliner, which are more fuel-efficient than the older models that they will replace.
The news source also found that much of the growth in the world's aircraft fleet will occur in Asia, which is expected to receive nearly 13,000 new airplanes.
While this growth is positive, carriers still need to maintain an efficient supply chain to stay competitive against other forms of freight transport. By investing in proof of condition services like CargoSnapshot, they will be able to account for every item they ship, especially in the event of theft or freight damage.