Investment

Boeing to include 767-300BCF conversion lines at GAMECO to meet growing demand

Boeing leverages talents of a global supplier base to advance economic opportunity with its sustainable, fuel-efficient models

Boeing is planning to set up two new 767-300BCF conversion lines in GAMECO by the next year. It will be the first maintenance, repair, and overhaul (MRO) to transform 737-800BCF and 767-300BCF freighters

By Smruti Bhalerao & Vidyut Kumar Ta

MUMBAI: Leading global aerospace company Boeing said that various airline companies operating out of the Commonwealth of Independent States (CIS), Ukraine, and Russia would need about 1,540 new airplanes in the next two decades worth $200 billion. The growth will be driven by the single-aisle market segment in the region.

According to Boeing’s long-term forecast on demand for commercial airplanes and services stated in the 2021 Commercial Market Outlook (CMO), the demand will require aftermarket aviation services in the CIS region, including maintenance and repair passenger-to-freighter conversions and digital service valued at $320 billion.

According to Boeing’s projections, the global and regional air travel markets are witnessing positive sentiments of a solid economic rally and pent-up demand in Russia, which has apparently fuelled the region’s domestic air traffic recovery.

“Boeing is all set to support airline companies in CIS, Ukraine, and Russia as they have the potential to remodel their business models and gain in the future,” said Randy Heisey, Managing Director, Commercial Marketing for Russia Ukraine and CIS, Boeing.

“Aviation is quite significant to enable strong domestic growth in the tourism sector and long-haul leisure travel while supporting cargo links and trade across various geographies,” said Heisey.

CMO PROJECTIONS-2040

The air traffic is expected to rise annually by 2.9 percent, with projected economic growth of 2.1 percent every year. The overall demand for the fleet will reach over 2,000 and clamor for fuel-efficient models. Similarly, single-aisle airplanes will constitute 75 percent of the deliveries. The need for 1,150 airplanes is likely to fuel the low-cost carrier (LCC) segment growth, including new low-cost airlines. Besides, the demand for 160 new widebody passenger and freighters will cater to the region’s leisure markets and long-haul cargo and passenger markets.

In terms of workforce, the CMO anticipates the region needs 83,000 aviation staff, which includes 25,000 technicians, 25,000 pilots, and 33,000 cabin crews.
Boeing and Russia have a long-standing and robust partnership in various sectors, including information technologies, metallurgy, space, aviation, and engineering. Additionally, the company has collaborations with major Russian aerospace entities under the International Space Station program.
Meanwhile, Boeing reported its third-quarter revenue of $15.3 billion. Higher services and commercial airplanes volume drove it. During the third quarter, its revenue from the commercial aircraft stood at $4.5 billion, which was primarily factored by higher deliveries of 737 narrow-body airlines, partially offset by lower 787 Dreamliner deliveries. ItsIts third-quarter operating margins also witnessed an upswing of 15.5 percent, primarily due to higher deliveries.

This news was scripted by Prittle Prattle News

Media of the day

Skip to toolbar