Boeing Co. is foreseeing a decided rebounding in the airplane manufacturing sector in the coming two decades.
The venerable company believes the uptick in air travel demand will continue for quite some time and said in its annual Commercial Market Outlook for a long-term forecast - released Saturday at the Farnborough International Airshow in England - that it projects the aviation industry will need 41,000 new airplanes by 2041.
The Market Outlook by Boeing CMO forecasts a market value of $7.2 trillion for new airplane deliveries and another $3.6 trillion in demand in its market segments over the same time period.
"Despite the unprecedented disruption over the past two years, the aviation industry has shown incredible resilience adapting to the challenge," said Ihssane Mounir, Boeing's senior vice president of Commercial Sales and Marketing, in a statement. "The 2022 CMO draws upon our expertise forecasting market trends to demonstrate the strong demand for new airplanes and related services in the coming decades, providing a waypoint as the industry continues to navigate its recovery."
Boeing said single-aisle airplanes will again make up 75 percent of all new deliveries for the second year in a row.
Boeing has done its annual forecast report for more than 60 years.
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