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IN THE NEWS
NEW YORK >> Demand for new airplanes around the world will continue to soar as millions of people in developing nations take to the skies for the first time.
In the next 20 years, global airlines will need 38,050 new airplanes, jet manufacturer Boeing said in its annual market forecast. That’s up 3.5 percent from last year’s projection.
In order to fill that demand, Boeing, its rival Airbus and smaller manufacturers like Embraer and Bombardier will have to build more than five new planes a day every day for the next two decades.
These new planes will help to double the number of aircraft worldwide from 21,600 to 43,560 in 2034. Fifty-eight percent of the 38,050 airplanes delivered over that time will be to accommodate growth. Boeing estimates that the number of passengers will grow by 4.9 percent each year. The rest of the new planes will replace existing aircraft. Nearly 2 out of every 5 new planes will head to Asia.
