Boeing raised its forecasted demand for aircraft to more than 35,000 over the next 20 years

Boeing has raised its forecasted demand for aircraft to more than 35,000 over the next 20 years.

According to its annual Current Market Outlook (CMO) report, the world fleet will double over the next two decades, creating demand for $4.8trn worth of aircraft.

"This forecast gives us confidence as we increase our production rates and invest in new products like the 777X and 787-10X," said Randy Tinseth, VP of marketing, Boeing Commercial Airplanes.

Both passenger traffic and cargo traffic are predicted to grow by five per cent each year. Boeing also forecasts demand for 24,670 new narrowbodies and 8,590 widebodies.

New aircraft deliveries: 2013-2032 (Boeing estimates)
Aircraft type	Seats	Total deliveries	Dollar value
Regional jets	90 and below	2,020	$80bn
Single-aisle	90 – 230	24,670	$2,290bn
Small widebody	200 – 300	4,530	$1,100bn
Medium widebody	300 – 400	3,300	$1,090bn
Large widebody	400 and above	760	$280bn

Boeing says that the market for new aircraft will become more "geographically balanced over the next two decades. Asia-Pacific, including China, will lead the way in total airplane deliveries."

New aircraft deliveries: 2013-2032 (Boeing estimates)
Region	Aircraft deliveries
Asia-Pacific	12,820
Europe	7,460
North America	7,250
Latin America	2,900
Middle East	2,610
C.I.S.	1,170
Africa	1,070
World Total	35,280