Boeing Hikes Its Forecast For Plane Sales In Next 20 Years

- World's one of the leading aircraft producers Boeing, increased its forecast for planes to be sold in the next 20 years by 3.5 percent to 38 thousand 50 units, according to its latest Current Market Outlook report.

"Over the next 20 years, we are forecasting a need for 38,050 airplanes valued at more than 5.6 trillion dollars" the report said. "Aviation is becoming more diverse, with approximately 40 percent of all new airplanes being delivered to airlines based in the Asia Pacific region."

An additional 20 percent would be delivered to airlines in Europe and North America, with the remaining 20 percent to be delivered to the Middle East, Latin America, the Commonwealth of Independent States and Africa, it added.

Single-aisle airplanes would command the largest share of new deliveries, with airlines needing approximately 26 thousand 730 planes, the report said. "These new airplanes will continue to stimulate growth for low-cost carriers and will provide needed replacements for older, less-efficient airplanes."

In addition, widebody fleets would need an additional 8 thousand 830 new airplanes, which would allow airlines to serve new markets more efficiently than in the past, it said.