Boeing projects a demand for more than 35,000 new airplanes over the next 20 years, valued at $4.8tn.
The company’s annual Current Market Outlook (CMO) forecasts the world fleet to double over the next two decades. Both passenger traffic and cargo traffic are expected to grow five per cent annually.
The single-aisle market is the main driver of the forecast and continues to show strength. 24,670 new airplanes will be needed in this segment due to the growth of low-cost carriers and airlines from emerging markets.
Widebodies also make up a large part of the forecast. 8,590 new airplanes will be needed in this segment, fuelled in part by airlines replacing their older fleet with new, more fuel-efficient airplanes.