Boeing and Airbus boosted by record demand for aircraft
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Boeing and Airbus both achieved record aircraft deliveries in 2013, as the aviation industry continues its strong recovery.
Boeing revealed last week that it delivered a record total of 648 commercial aircraft last year, marking an 8% increase compared to the 601 jets it delivered in 2012. And Airbus has now confirmed that it broke its annual delivery record in 2013, with 626 aircraft compared to 588 the previous year.
And the number of aircraft being ordered by airlines is also accelerating. Airbus received a record 1,503 commercial aircraft orders last year, while Boeing’s total of 1,355 marks its highest level since 2007, before the global financial crisis.
Looking back 10 years, the combined number of annual orders taken by Boeing and Airbus has jumped more than 400% since 2003, while total deliveries have increased 117%.
Much of this growth is being driven by demand for new fuel-efficient aircraft. With the price of oil having risen from approximately US$30 per barrel in 2003 to more than US$100 last year, airlines are investing heavily in new aircraft designed to be more economical. Airbus and Boeing have so far sold more than 4,200 of their new narrow-body jets, including 2,500 A320neos and 1,700 B737 MAXs.
And new fuel-efficient wide-body aircraft models, including the B787 Dreamliner and A350 XWB, are also proving popular. Boeing managed to increase Dreamliner deliveries by 41% in 2013, despite the aircraft being grounded for four months. This was driven by accelerated production rates at Boeing’s factories, with the US planemaker having boosted output on three of its models last year – the B737, B777 and B787.
And Airbus has said it could also raise production levels to help shift record a backlog of aircraft. Airbus hired 3,000 new staff in 2013.
Boeing predicts that the world’s airlines will need approximately 34,000 new aircraft over the next 20 years, worth US$4.5 trillion. Of this total, 35% are expected to operate in the Asia Pacific region.
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