Boeing Africa (BA) significantly raised its long-term aircraft demand outlook for the continent, citing accelerating economic growth and rising air travel across the region.
The company now projects that African carriers will require about 1,700 new aircraft over the next 20 years, up from a forecast of 1,200 planes issued last year and 1,000 projected three years ago. The updated estimate was shared Thursday in Nairobi by Managing Director Henok Teferra Shawl.
Narrowbody jets are expected to make up roughly two-thirds of future deliveries as airlines expand short- and medium-haul routes.
Economic momentum in Sub-Saharan Africa is expected to outpace the global average this year. The International Monetary Fund forecasts the region’s output will rise 4.6% compared with 3.3% worldwide.
Boeing (BA) said passenger volumes in Africa are projected to increase about 6% annually over the coming years, supported by demographic trends such as a youthful population, an expanding middle class, ongoing urbanization and continued investment in airport infrastructure.
Boeing (BA) currently holds an estimated 70% share of the African aircraft market.