Boeing forecasts that 43,500 passenger and cargo planes will be needed by airlines during the next 20 years, with 19,000 needed during the next decade, while the demand for fighter planes, helicopters, bombs and missiles during the next decade is predicted to reach $2.6 trillion.
The statistics are part of Boeing's recently-released outlook for the commercial and defense aviation markets for the coming decades. The report said that 40% of military sales in the U.S. will be from overseas customers. Leanne Caret, president and CEO of Boeing Defense, Space & Security, said the threat environment continues to evolve, and therefore Boeing is committed to supplying advanced solutions.
In the commercial market, Boeing expects a significant recovery following the impact of COVID-19. Passenger traffic is rebounding swiftly, and governments have confidence in health and safety during air travel. The traffic is expected to rise by an average of 4% a year, with airlines needing more than 7,500 new widebody planes by 2040, the company said.