Cirium’s 2023 Fleet Forecast Predicts Annual Passenger Aircraft Deliveries to Exceed $100 Billion in 2024
Cirium, the world’s most trusted source of aviation analytics, has today published its 2023 Fleet Forecast, through the Cirium Ascend Consultancy, revealing that annual passenger aircraft deliveries are set to exceed $100 billion in 2024.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240111094841/en/
Figure 1: Forecast deliveries 2023-2042 (Graphic: Business Wire)
The forecast, which enters its eleventh year of publication, also predicts that freight capacity will grow 4.1% annually compared with 2022, and that 3,590 freighter aircraft will be supplied over the next 20 years, including 1,060 new build aircraft and 2,530 conversions from passenger aircraft.
Airbus and Boeing will continue to dominate the commercial aircraft manufacturing space, with a combined delivery projection of 89% of all aircraft through to 2042.
Rob Morris, Head of Consultancy, at Cirium Ascend Consultancy, said: “With global traffic almost back to 2019 levels, the increased levels of order activity in 2023 shows that the airline industry’s new growth cycle is gaining momentum. The 2023 Cirium Fleet Forecast predicts new deliveries will total $3.2 trillion over the next 20 years.
The CFF capacity modelling gives an independent view of future demand for aircraft and questions such as: are higher single-aisle production volumes justified? What will be shares between A321neo and 737-10, A350-1000 and 777-9, A350F and 777-8F? Airbus and Boeing are forecast to take almost 90% of the market but when could they introduce new programmes and what market share will new Chinese programmes take?”
From a regional perspective, Asia will continue to lead the way, with China forecast to have the highest passenger capacity growth rate at over 8%. This will make it the largest single country in the region for deliveries, with a 19% share of global deliveries, ahead of all other Asia-Pacific countries with a combined share of 24%.
North American airlines follow with 20% and Europe with 18%. Middle East airlines will take 7% of deliveries, but the share rises to 11% in value terms due to the rich mix of higher value twin-aisle deliveries.
The Cirium Fleet Forecast adopts a scenario-based approach that favours examining the most up to date information available, combined with expert commentary and analysis. This year’s forecast is based on the recently adjusted version of Ascend’s 2022 Recovery Scenario 7, which is detailed in the full Fleet Forecast report.
To download the executive summary, please visit: https://www.cirium.com/solutions/cirium-fleet-forecast/ or contact Cirium to purchase the full report: https://www.cirium.com/about/contact-us/
About Cirium
Cirium is the world’s most trusted source of aviation analytics. Through powerful data and analytics, coupled with decades of industry experience, Cirium is enabling airlines, airports, travel companies, aircraft manufacturers, and financial institutions, amongst others, to make intelligent and informed decisions that improve operations, grow revenues, and enhance customer experiences.
Cirium is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. The shares of RELX PLC are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.
For further information please follow Cirium updates on LinkedIn or visit www.cirium.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240111094841/en/
Contact information
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Murata Pushes Capacitor Design with World’s First 10µF/50Vdc MLCC in 0805-inch Size for Automotive Applications26.6.2025 05:00:00 EEST | Press release
Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) has announced the new GCM21BE71H106KE02 multilayer ceramic capacitor (MLCC) has entered mass production. The device is the world's first 0805-inch size (2.0 x 1.25 mm) MLCC to offer a capacitance of 10µF with a 50Vdc rating and is specifically engineered for automotive applications*. This cutting-edge product marks a significant advancement in MLCC design, delivering a smaller 0805-inch package while maintaining capacitance, voltage rating, and MLCC reliability. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250611043543/en/ [Murata Manufacturing Co., Ltd.] 10µF/50Vdc MLCC in 0805-inch Size for Automotive Applications Advancements in advanced driver-assistance systems (ADAS) and autonomous driving (AD) technologies necessitate deploying an increased number of integrated circuits (ICs) within vehicle systems. This surge in ICs simultaneously leads to a greater
Mars’ Pending Acquisition of Kellanova Clears FTC Antitrust Review26.6.2025 03:07:00 EEST | Press release
Mars, Incorporated, a family-owned, global leader in pet care, snacking and food, and Kellanova (NYSE: K), a leader in global snacking, international cereal and noodles and North America frozen foods, today announced that the U.S. Federal Trade Commission (FTC) has concluded its antitrust review of Mars’ pending acquisition of Kellanova. Poul Weihrauch,CEO & Office of the President, Mars, Incorporated, said: “We are very pleased that the FTC has completed its review of the transaction without the imposition of any condition or requiring any remedy. The transaction has now received all but one of the 28 required regulatory clearances, with only the review by the European Commission outstanding. This brings us one step closer to uniting two iconic businesses with complementary footprints and portfolios, allowing us to deliver more choice and innovation to consumers.” Steve Cahillane, Chairman, President & CEO, Kellanova, said: “This represents a significant milestone on our path to combi
VeriSilicon Expands DSP Portfolio with Silicon-Proven ZSP5000 Vision Core Series for Edge Intelligence26.6.2025 03:00:00 EEST | Press release
VeriSilicon (688521.SH) today released the ZSP5000 Digital Signal Processing (DSP) series IPs, which are based on its fifth-generation silicon-proven DSP architecture. This product line adopts a highly scalable and energy-efficient design, and has been deeply optimized for compute-intensive workloads such as computer vision and embedded AI. Combined with the configurable nature of the architecture, this series of IP can provide excellent solutions with both energy and computing efficiency for various edge devices. The ZSP5000 series IPs include ZSP5000, ZSP5000UL, ZSP5000L, and ZSP5000H, delivering scalable vector processing performance ranging from 32 to 256 8-bit Multiply-Accumulate (MAC) operations per cycle. For even higher performance, VeriSilicon’s multi-core ZSP5400H can combine multiple ZSP5000H cores in a multi-cluster architecture to further scale computing capability. The ZSP5000 series features a rich and intuitive instruction set optimized for ease of programming and effic
Newpark Fluids Systems Strengthens Executive Leadership and Board to Drive Continued Growth25.6.2025 22:39:00 EEST | Press release
Newpark Fluids Systems (“Newpark” or the “Company”), a leading global independent provider of drilling and completion fluids solutions, and SCF Partners (“SCF”) are pleased to announce several key additions to the Company’s executive leadership and Board of Directors. These strategic appointments, along with significant capital investments, including the development of a leading liquid mud facility in West Texas and a new technology center of excellence in Saudi Arabia, underscore Newpark’s commitment to operational excellence, customer value, and accelerated global growth following its acquisition in 2024. Nathan Snoke has joined Newpark Fluids Systems as Senior Vice President, Western Hemisphere bringing nearly two decades of predominantly North American oilfield experience to his role, most recently holding operational and commercial leadership positions with Halliburton and Flotek. He has worked across every major U.S. shale play—from the Rockies and Permian to the Marcellus and Ha
Intelsat Partners with Whitaker Peace & Development Initiative to Expand Access to Education in East Africa25.6.2025 22:00:00 EEST | Press release
Intelsat, operator of one of the world’s largest integrated satellite and terrestrial networks, announced today a groundbreaking partnership with Academy Award-winning actor and humanitarian Forest Whitaker’s nonprofit, the Whitaker Peace & Development Initiative (WPDI), to revolutionize access to education in conflict-affected regions across Africa. The collaboration will deliver for the first time high-speed internet connectivity to WPDI’s Community Learning Centers in South Sudan and Uganda, creating digital bridges to education for thousands of young people in areas where infrastructure has been insufficient or compromised. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250625237871/en/ This unprecedented effort will bring reliable internet access to communities where traditional connectivity infrastructure is inadequate for modern online education. (Courtesy: WPDI) Intelsat will equip 10 centers—seven in South Sudan and
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom