 Boeing expects fewer cancellations and deferrals this year |
Aerospace giant Boeing expects a global economic recovery this year to result in renewed demand for aircraft in 2012.
"We see 2010 as the year of economic recovery and 2011 a year where airlines recover to profitability," said Boeing plane marketing chief Randy Tinseth.
"As a result of that [we see] an increase in demand for airplanes in 2012," he said.
Separately, shares in US defence firms rose on Monday on the back of a 3.4% increase in the US defence budget.
Boeing shares rose 1.8% while Northrop Grumman gained 2.3%.
Lockheed Martin shares also rose, though only by 0.5% after the company was dealt a blow on Monday when the Pentagon sacked the head of its F-35 Joint Strike Fighter programme, Major General David Heinz of the Marine Corps.
The Pentagon also said Lockheed would not receive $614m in performance-related payouts because of cost overruns.
Investors were concerned about Lockheed being forced to accept greater development risks in relation to the F-35 programme.
Dreamliner delivery
Boeing's civilian division expects aircraft deliveries to fall this year to between 460 and 465 planes. This is down from 481 in 2009, which itself was a weak year with 270 orders for Boeing planes deferred and 120 cancelled.
However, while last year saw a flurry of deferrals and cancellations of aircraft orders, this year should see the situation improve, Boeing's Mr Tinseth predicted during the Singapore air show.
Boeing also said it would deliver the first 787 Dreamliner to All Nippon Airways by the end of the year after a series of delays.
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