CHICAGO - Boeing is cutting its expectations for new commercial aircraft demand over the next decade, citing what it estimates will be a years-long slump in travel demand because of the coronavirus pandemic, Leslie Josephs reports for CNBC. Continue reading original article.
The Intelligent Aerospace take:
October 7, 2020 - Coronavirus has impacted the aerospace industry in a major way this year, heaping more stress onto Boeing, who still has not gotten its best-selling 737 Max line back in the air following deadly crashes in late 2018 and early 2019.
While global air travel was on the upswing prior to COVID-19, Boeing says that the pandemic has caused the company to forecast an 11% drop in aircraft demand from a year prior.
Chicago-based Boeing had a defense-focused silver lining to its commerical-sector cloud as the aerospace giant forecast a $100 billion bump to $2.6 trillion mil-space market over the next decade.
Jamie Whitney, Associate Editor