Chicago—Boeing Co. released projections forecasting that the current world commercial aviation fleet will double in size over the next 20 years. During that period, the commercial aviation industry will add 34,000 new airplanes, according to Boeing's “2012 Current Market Outlook.”
Boeing said the growth it forecasts is being driven by expansion in China, India and other emerging markets; by demand from low-cost carriers; and by a movement to replace older, less fuel-efficient aircraft.
“The world's aviation market is broader, deeper and more diverse than we've ever seen it,” said Randy Tinseth, VP-marketing at Boeing Commercial Airplanes. “It has proven to be resilient even during some very challenging years and is driving production rate increases across the board.”