by Devesh Agarwal
US Airframer Boeing announced that it will adjust the production rate for the 747-8 program from two airplanes to 1.75 airplanes per month because of lower market demand for large passenger and freighter airplanes.
Boeing expects long-term average growth in the air cargo market to resume in 2014, and forecasts a demand for 790 large airplanes (such as the 747-8 Intercontinental) to be delivered worldwide over the next 20 years.
The first delivery of an airplane at the new production rate is expected in early 2014. The production rate change is not expected to have a significant financial impact.