Gallery: The Boeing 747's Future Aftermarket

Boeing delivered its final new 747 aircraft on Jan. 31. Since entering service more than 50 years ago, the 747 fleet has logged more than 118 million flight hours. While the aircraft may no longer be in production, its aftermarket demand will continue—particularly through cargo operators.

Read on to learn more about Aviation Week’s MRO forecast for the 747 over the next decade.

This year, approximately 363 747s will be in-service. Of these, 225 are comprised of 747-400 variants, which are flown both by commercial and cargo operators. Over the course of the next decade, however, the fleet will reduce at a compound annual growth rate of -2.1%.

Atlas Air, the recipient of the final 747 delivery (pictured) last month, is the world's largest operator of 747 aircraft. Aviation Week data shows the U.S.-based airline operating 42 aircraft in 2023.

Atlas Air’s last 747 arrived at MRO provider FEAM Aero’s Cincinnati/Northern Kentucky International Aiport (CVG) facilities on Feb. 1 for line maintenance services. FEAM supports multiple domestic and international carriers that operate the aircraft type at CVG and across its network of U.S. and European line stations. According to Scott Diaz, FEAM’s vice president of business development and marketing, the company plans to continue support for the aircraft type for as long as its customers decide to operate them. “FEAM has heavily invested in Boeing specialized training and tooling to ensure the 747 maintains reliable operations for each phase of its operational lifecycle,” says Diaz.

Total MRO demand for the 747 in 2023 stands at $3.2 billion. Over the next 10 years, the widebody aircraft will generate $33.7 billion in MRO spending.

Between 2023-32, 60% of 747 aftermarket demand will be comprised of engine maintenance. This will be followed by components repairs (15%), line maintenance (15%), airframe heavy maintenance (8%) and modifications (2%).

According to Aviation Week data, approximately 4,402 MRO events are expected from 2023-32. 

Retirements of 747s will be steady over the course of the 2020s. In 2023, 17 retirements are expected before retirements reduce between 2024-28. From 2029, retirements are expected to rise again and will peak in 2031, with a projected 33 retirements predicted by Aviation Week.

The Asia-Pacific region, home to 747 operators such as Air China (pictured), will lead global MRO demand by region and generate $9.9 billion from 2023-32. Closely following will be Western Europe ($9.7 billion) and North America ($9.5 billion).

One segment expected to grow is the market for the 747 freighter aircraft. There are currently 95 747Fs in service, but this will grow to 107 aircraft by 2032, a compound annual growth rate average of 1.3% over 10 years. As a result, projected MRO growth for the aircraft type from 2023-32 will be 6.3%.