NEW DELHI — Boeing, the world’s largest planemaker, has unveiled its forecast for aviation market for the coming twenty  years and reaffirmed its growth throughout the world.  The company’s annual forecast called as the Commercial Market Outlook projects that the world fleet of jet planes would need an additional fleet of  42, 370 valued at US$6.3 trillion. The forecast predicts that the global demand for commercial aviation services will create a market opportunity of US$15 trillion.
According to Boeing, “there are more than 900 airplanes today that are over 25 years old. By the mid 2020’s, more than 500 airplanes a year will reach 25 years of age – double the current rate – fuelling the retirement wave.  Thus 44 per cent of the new airplanes will be needed to cover replacement alone, while the rest will support future growth”

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