This archive report was first published on 27 October 2021.
As the aviation sector continues to recover from the devastating impact of Covid-19, Africa's airlines are poised for a bright future, with Boeing forecasting that the continent's carriers will invest $160 billion in acquiring an additional 1,030 aircraft by 2040.
According to the 2021 Commercial Market Outlook (CMO), Boeing's long-term assessment of demand for commercial planes and services, Africa's strong economic growth prospects and growing demand for air travel are driving the projected investment.
The continent's projected three percent annual economic growth over the next 20 years is expected to stimulate trade, air travel, and economic cooperation, with initiatives such as the African Continental Free Trade Area and Single African Air Transport Market playing a key role.
Boeing also notes that the continent will require aftermarket services, including manufacturing and repair of these aircraft, worth $235 billion, enabling growth for air travel and economies across the region.
