LONDON, July 15 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA) forecasts a $3.6 trillion market for new commercial airplanes over the next 20 years as world economies rebound and strong demand for new and replacement aircraft spurs growth. The Boeing 2010 Current Market Outlook (CMO), released today in London, foresees a market for 30,900 new commercial passenger and freighter airplanes by 2029.
The report, now in its 46th year of public release, is widely regarded as the most comprehensive and respected analysis of the commercial aviation market, and reflects the improving, yet still unstable conditions facing the industry.
"The world market is doing much better than last year, but there are still challenges," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. "Looking at 2010, we see a world economy that continues to recover. We expect the world economy to grow above the long-term trend this year. As a result, both passenger and cargo travel will grow this year. Airline revenue and yields are up, but fuel prices remain volatile."
Passenger traffic is expected to grow at......
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