In a forecast released this week, Boeing projects demand for 35,280 new airplanes worth $4.8 trillion in the next 20 years.
The forecast gives Boeing the confidence to increase production rates and invest in new products such as an upgraded 777 and a derivative of the current 787, Randy Tinseth, Boeing commercial airplanes vice president of marketing, said in a statement.
The forecast period includes deliveries from 2013 through 2032.
"Airlines are demanding more efficiency, and that is exactly what we'll be giving them," Tinseth said.
The single-aisle market makes up the biggest portion of the forecast and continues to show strength, he said.
In the single-aisle category, Boeing offers the 737 Next Generation and the 737 MAX, while Airbus offers the A320 and A320 neo.
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 high 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."
The forecast predicts demand for 24,670 single-aisle airplanes with 90 to 230 seats.
It also shows demand for 2,020 regional jets and 8,590 small to large wide-body jets.
The biggest demand is expected to come from the Asia-Pacific region, with demand for 12,820 jets over the next 20 years.
Demand from Europe is forecast at 7,460 planes and from North America at 7,250 aircraft.
Most Popular Stories
- #myNYPD Twitter Campaign Backfires for NYPD
- Justin Bieber's War Shrine Pic Causes Flap
- Wellness Programs Grow More Popular With Employers
- Tesla Expanding its California Operations
- First Lady Announces Job Site for Veterans
- Google, SunPower Team Up on Solar Power
- Boeing Flying High With Strong First Quarter
- FedEx Sued Over Deadly California Bus Crash
- Amazon Prime Grabs Classic HBO TV Series
- Procter & Gamble Income Up on Cost Cutting