Chicago • Boeing Co. raised its long-term forecast for new airplane demand by more than 4 percent, based on expected orders of smaller, more fuel-efficient planes and burgeoning travel in Asia.
The Chicago company said Thursday that it expects deliveries of 36,770 new airplanes over the next 20 years, with total list prices valued at an estimated $5.2 trillion.
That's up from Boeing's forecast last year that global airlines would need 35,280 jets worth $4.8 trillion over the next 20 years.
Low-cost carriers are fueling the fastest growing segment of the market — single-aisle airplanes. Those aircraft, such as the Boeing 737 and rival Airbus A320, make up 70 percent of all orders, with the heart of that demand found in the 160-seat range.