Boeing predicts a demand for more than 35,000 new airplanes over the next two decades valued at $4.8 trillion.
Both cargo and passenger traffic are expected to grow 5 percent annually.
“This forecast gives us confidence as we increase our production rates and invest in new products like the 777X and 787-10X,” Randy Tinseth, vice president of marketing, Boeing Commercial Airplanes, said. “Airlines are demanding more efficiency, and that is exactly what we’ll be giving them.”
The single-aisle market, served by Boeing’s Next-Generation 737 and the future 737 MAX, is the main driver of the forecast.
Widebodies, such as Boeing’s 747-8, 777 and 787 Dreamliner, also make up a large part of the forecast. This is due in part by airlines replacing their older fleet with new, more fuel-efficient airplanes.
After facing high and volatile fuel prices and a competitive environment, airlines have been forced to change the way they manage their business.
“Our customers are focused on growing their networks, managing their capacity and investing in new fleets,” Tinseth said. “These trends will shape market demand for airplanes that have highly efficiency, low operating costs, environmentally progressive technologies and a great passenger experience. We believe Boeing’s current and future products are perfectly aligned to meet those needs.”