Boeing sees $8 trillion jet market as climate reshapes travel - The Seattle Times
Boeing Sees $8 Trillion Jet Market As Climate Reshapes Travel - Bloomberg
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Boeing expects the global fleet will nearly double through 2042.
Julie Johnsson
Boeing Co. predicts airlines around the world will add 42,595 jets valued at about $8 trillion over the next two decades, even as concerns over climate change affect the way consumers travel.
The US planemaker’s latest tally of industrywide deliveries over the next 20 years takes into account growing activism over jet emissions, said Darren Hulst, a Boeing vice president of marketing. He predicts a fall-off in commercial flights that are shorter than 500 miles, as governments urge consumers to switch to greener transport such as trains.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”