Boeing predicts increased need for aircraft in Africa
September 22, 2010, 11:26 am
Boeing is predicting a strong future for itself. The company says travel growth and commodities in Africa are pointing towards an increase in demand for services to the continent.
Over the next two decades, Boeing estimates more than 700 airplanes will be needed to meet the increase in demand. The large fleet of aircraft could result in an estimated $80 billion for the company.
Boeing Commercial Airplanes senior market analyst Mike Warner says the need to replace older aircraft will spur an increased need for airplane production.
"As the demand for African commodities grows and foreign development and tourism increase, African carriers will require a modernized fleet in order to compete on routes historically dominated by foreign carriers," says Warner. "Africa's current fleet is nearly 20 years old on average in a market that demands newer, more fuel-efficient airplanes to help offset the rising cost of fuel."
Data from the Office of Travel and Tourism Industries shows that more than 250,000 people visited Africa in 2005, marking an increase from the previous year.
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