NEW YORK, July 10, 2016 /PRNewswire/ -- A global research study produced jointly by Penton Aviation Week Network and BofA Merrill Lynch Global Research provides the first detailed aviation customer view of how their next mid-sized airliner should be configured and perform and how much they would be willing to pay for it.
Using input from aviation analysts at BofA Merrill Lynch Global Research and Aviation Week Network's Editors, Penton's Research Division conducted the survey across the aviation community, with more than 500 qualified airline and air cargo senior managers responding from Asia-Pacific, North America, Europe, Middle East, Latin America and Africa.
The findings were announced publicly on the eve of the Farnborough Air Show in Penton Aviation Week Network brands, including Aviation Week & Space Technology, Air Transport World, Aviation Daily, Farnborough ShowNews, SpeedNews and AviationWeek.com.
"The findings from this survey suggest there is strong demand for a new Middle of the Market (MOM) airplane and that many airlines would like it earlier than the 2024-25 service entry date Boeing has talked about," said Aviation Week Editor-in-Chief Joe Anselmo. "Sixty percent of respondents also favor a small wide body aircraft, so long as it is compatible with existing airport infrastructure."
The segment MOM would enter will demand nearly $250-billion worth of aircraft at retail prices during the next 10 years, according to Aviation Week's Intelligence & Data unit. It is forecast to be one of the fastest growing aircraft categories with a 5.7% average annual growth rate compared with a worldwide rate for all types of only 3.4%.
The results verified extremely high demand for the aircraft, with 89% of respondents saying they are interested in purchasing it; 82% of which would like to buy it before 2023.
The results of the survey and our analysis of market dynamics reveal a strong case for a middle of the market aircraft," said Ron Epstein, senior Aerospace/Defense analyst, BofA Merrill Lynch Global Research. "If executed well, we believe there may be a significant opportunity for manufacturers."
Among the MOM aircraft traits defined:
- 250 Seats with a 2-class configuration
- Maximum range of 5,000 nautical miles
- Compatible flight deck and pilot training with other aircraft
- Composite carbon fiber as the primary material for the fuselage, wings, and empennage
ABOUT PENTON'S AVIATION WEEK NETWORK
Penton's Aviation Week Network is the largest multimedia information and services provider for the global aviation, aerospace and defense industries that has a database of 1.2 million professionals around the world. Industry professionals rely on Aviation Week for analysis, marketing and intelligence. Customers include the world's leading manufacturers, suppliers, airlines, business aviation operators, militaries, governments and other organizations that serve this global market. The product portfolio includes Aviation Week & Space Technology, AC-U-KWIK, Aircraft Blue Book, Airportdata.com, Air Charter Guide, Air Transport World, AviationWeek.com, Aviation Week Intelligence Network, Business & Commercial Aviation, Inside MRO, MRO-Network.com, ShowNews, SpeedNews, Fleet and MRO forecasts, Fleet Discovery, global maintenance, repair and overhaul (MRO) tradeshows and aerospace & defense conferences.
Penton is an innovative information services company that empowers nearly 20 million business decision makers in markets that drive more than 12 trillion dollars in purchases each year. Our products inform with rich industry insights and workflow tools; engage through dynamic events, education and networking; and advance business with powerful marketing services programs. Penton is the way smart businesses buy, sell and grow.
Headquartered in New York, Penton is privately owned by MidOcean Partners and Wasserstein & Co., LP. For more information, visit http://www.penton.com or follow us on Twitter @PentonNow.
Director, Marketing Communications
Aviation Week Network
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