CNBC
Phil LeBeau

Despite the Covid pandemic wiping out two years of growth for the commercial airplane market, Boeing expects demand for the industry to swell over the next 20 years.  

The company’s annual market outlook predicts the global fleet of commercial airplanes will climb from 25,900 in 2019 to 49,405 planes by 2040, with almost 90 percent those planes being new models that will enter service over the period.

In addition, Boeing is projecting the global aerospace industry, including defense and services, will reach $9 trillion over the next decade. That’s up $500 billion from the same forecast last year. It is also the largest amount the company has ever projected for the industry over a 10-year period.

Full Article