Boeing forecasts that Airlines in North America will take delivery of 7,290 new airplanes over the next 20 years at a market value of $820 billion. This will require that over 70,640 pilots are hired and trained to fly them.
In a market forecast presented this week, the manufacturer said the North American commercial fleet will grow from 6,650 aircraft currently to about 8,830 by 2031 (including aircraft retirements).
"The North American commercial aviation market is about to record a third consecutive year of profit, with modest passenger traffic growth," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. "The long-term outlook for the North American airline industry is approximately 3 percent annual traffic growth through the forecast period. The market is shaped by aggressive growth of low-cost carriers and the need to replace aging airplanes in the fleets of the established network carriers."
Low-cost carriers will continue to outpace network carrier growth to accommodate increased demand and fill some markets abandoned by network carriers.