Boeing projects $70 billion market for Russia, CIS.

For the first time, Boeing has published its forecast for Russia and the Commonwealth of Independent States (CIS) as part of the Current Market Outlook. The forecasters predict that the region will require 1,060 new airplanes worth about $70 billion over the next 20 years.

According to the forecast, airplanes in the Boeing 737 size range will account for 44 percent of all commercial jetliners delivered to Russian and CIS airlines during the next 20 years, amounting to 470 units valued at $30 billion. Eleven percent--or 110 units at a value of $20 billion--will be twin-aisle airplanes like the Boeing 777 and 787. Forty-three percent will be smaller regional jets, while airplanes of the Boeing 747 size or larger will comprise 2 percent of the market.

Boeing notes that both domestic and international air traffic has increased in Russia and the CIS by 36 percent over the last 10 years and that most indicators point toward continued economic growth for the region. The company also points out that liberalization of air traffic regulations, airline consolidation and the reduction or elimination of high tariffs on new airplanes could generate additional demand for new airplanes.

Air traffic within Russia and the CIS is expected to grow 6 percent per year over the next 20 years. Traffic on transatlantic routes between Russia/CIS and North America is projected to increase 4.1 percent annually.

Worldwide, Boeing estimates the fleet will require 28,600 new jets by 2026 worth about $2.8 trillion.