Boeing (BA) to See Asian Demand Take Flight
Boeing’s (NYSE: BA) Vice President for Marketing Randy Tinseth recently highlighted the company's forecast for 33,500 new aircrafts by 2030.
Management at the company is predicting Asia’s demand will account for 11,450 airplanes, or 34 percent of the total growth outlook. The value of the addition plans is roughly $4 trillion, reported the WSJ over the weekend.
In an attempt to meet the projected demand, Boeing has already increased production rates while continuing designing bigger, safer and more eco friendly planes. With 60 percent of the future demand representing actual growth, while the other 40 percent will be due to replacement needs, the company is looking to launch a new larger 787 Dreamliner. The new model would be capable of carrying up to 320 passengers, 40 people, or 15 percent more than the current model.
Mr. Tinseth noted the current economic crisis in Europe is not helping the industry and continues to hamper potential growth. Companies have begun reducing the frequency of flights to Europe declining demand.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
Management at the company is predicting Asia’s demand will account for 11,450 airplanes, or 34 percent of the total growth outlook. The value of the addition plans is roughly $4 trillion, reported the WSJ over the weekend.
In an attempt to meet the projected demand, Boeing has already increased production rates while continuing designing bigger, safer and more eco friendly planes. With 60 percent of the future demand representing actual growth, while the other 40 percent will be due to replacement needs, the company is looking to launch a new larger 787 Dreamliner. The new model would be capable of carrying up to 320 passengers, 40 people, or 15 percent more than the current model.
Mr. Tinseth noted the current economic crisis in Europe is not helping the industry and continues to hamper potential growth. Companies have begun reducing the frequency of flights to Europe declining demand.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- Apple's (AAPL) New iPad Shows Rapid Adoption in U.S.
- LinkedIn (LNKD) Shares Lower as ITG Warns of Q2 Pricing, Volume Weakness
- Cree (CREE) Volatility Elevated as CFO Slide Continues
Create E-mail Alert Related Categories
Corporate News, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
