Boeing's commercial aviation market forecast, 2013-2032. (Source: Boeing.)
Boeing's commercial aviation market forecast, 2013-2032. (Source: Boeing.)

The report, published annually, forecasts the world fleet to double over the next two decades. Both passenger traffic and cargo traffic are expected to grow 5% annually.

This forecast gives us confidence as we increase our production rates and invest in new products like the 777X and 787-10X. Airlines are demanding more efficiency and that is exactly what we'll be giving them.
Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes

The single-aisle market, served by Boeing's Next-Generation 737 and the future 737 MAX, is the main driver of the forecast and continues to show strength. 24,670 new aircraft will be needed in this segment due to the growth of low-cost carriers and airlines from emerging markets.

Widebodies, such as Boeing's 747-8, 777 and 787 Dreamliner, also make up a large part of the forecast. 8,590 new aircraft will be needed in this segment, fuelled in part by airlines replacing their older fleet with new, more fuel-efficient aircraft.

The market for new aircraft will continue to become more geographically balanced over the next two decades. Asia-Pacific, including China, will lead the way in total aircraft deliveries.

After facing high and volatile fuel prices and a highly 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," says Tinseth.

"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."

Boeing's Current Market Outlook report is available here.