Boeing has predicted that air traffic will return to pre-pandemic levels by 2024.
In its latest market outlook report, the company has adopted a rosy outlook thanks to increased orders for planes and a growing demand for domestic air travel.
“The aerospace industry has made important progress in the recovery, and Boeing’s 2021 forecast reflects our confidence in the resilience of the market,” said Stan Deal, president and CEO, Boeing Commercial Airplanes.
“While we remain realistic about ongoing challenges, the past year has shown that passenger traffic rebounds swiftly when the flying public and governments have confidence in health and safety during air travel.
“Our industry continues to serve an essential role of bringing people together and transporting critical supplies.”
The airplane giant is also bullish about its 20-year outlook, saying that predicted growth of 4% per annum remains true.
Boeing says that 84% of domestic air travel has returned, but international travel remains at 25% of pre-pandemic levels.
It also believes that long-haul travel will take another two years to be restored.
Long term, market fundamentals and resilience drive demand through 2040 for more than 43,500 new airplanes valued at $7.2 trillion.
Yesterday (14 September), Airbus released its own predictions, saying it would be 2025 before passenger traffic would be properly restored.