Boeing CMO predicts $4.5tn market for 34,000 new aircraft

Boeing is projecting a $4.5tn (£2.9tn) market for 34,000 new aircraft over the next 20 years as the current world fleet doubles in size, according to the Boeing 2012 Current Market Outlook (CMO).

Airline traffic is forecasted to grow at a five per cent annual rate over the next two decades, with cargo traffic projected to grow at an annual rate of 5.2 per cent.

According to Boeing, the single-aisle market, served by Boeing’s Next-Generation 737 and the future 737 MAX, will continue its robust growth.

Widebodies will account for almost $2.5tn worth of new aircraft deliveries, with 40 per cent of the demand for these long-range aircraft coming from Asian airlines.