Boeing sees a $5.4 trillion market for new commercial airplanes and aviation services during the next 20 years, which will bring about a doubling of the world's airplane fleet by 2023 and accommodate a forecasted 5.2 percent annual increase in world air travel.
The company released its 2004 Current Market Outlook today during the Farnborough Air Show. The report is widely regarded as the most comprehensive and respected analysis of the commercial aviation market.
"The long-term market outlook remains positive," said Boeing Commercial Airplanes Vice President of Marketing Randy Baseler. "Even severe downturns such as we've experienced during the past few years do not change the fundamentals of economic growth and the need for people to travel."
Boeing projects that operators will invest $2.0 trillion for approximately 25,000 new commercial airplanes during the next 20 years. Of that:
