Boeing is cutting its expectations for new commercial aircraft demand over the next decade
Boeing is cutting its expectations for new commercial aircraft demand over the next decade, citing what it estimates will be a years-long slump in travel demand because of the coronavirus pandemic, Leslie Josephs reports for CNBC. Continue reading original article.
The Intelligent Aerospace take:
October 7, 2020 – Coronavirus has impacted the aerospace industry in a major way this year, heaping more stress onto Boeing, who still has not gotten its best-selling 737 Max line back in the air following deadly crashes in late 2018 and early 2019.
While global air travel was on the upswing prior to COVID-19, Boeing says that the pandemic has caused the company to forecast an 11% drop in aircraft demand from a year prior.
Chicago-based Boeing had a defense-focused silver lining to its commerical-sector cloud as the aerospace giant forecast a $100 billion bump to $2.6 trillion mil-space market over the next decade.