Boeing forecasts USD 4.5 trillion of new planes will be bought over the next 20 years, with airline traffic growing at an annual rate of 5% over the next two decades and cargo traffic growing at a slightly faster 5.2% rate.
The rate will be mostly driven by demands in the emerging markets of China, India and Brazil.
“The world’s aviation market is broader, deeper and more diverse than we’ve ever seen it,” said Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes.
“It has proven to be resilient even during some very challenging years and is driving production rate increases across the board.”
A robust demand is expected for Boeing’s single-aisle generation 737 and the 737 Max, which is due to fly for the first time in 2016.
The projection for the number of freight planes to be sold is cut due to the sluggish rate of the caro market.
But it still expects the world freight fleet to nearly double from 1,740 aircraft currently to 3,200 in 20 years’ time.
“That market’s going to come back when the economy comes back,” said Mr Tinseth.