Boeing today released is future forecast, projecting a demand for more than 35,000 new airplanes over the next 20 years, valued at $4.8 trillion.

The company expects the world fleet to double over the next two decades. Both passenger traffic and cargo traffic are expected to grow 5 percent annually.

“This forecast gives us confidence as we increase our production rates and invest in new products like the 777X and 787-10X,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “Our customers are focused on growing their networks, managing their capacity and investing in new fleets.”

This annual Current Market Outlook was made public today in Paris just before next week’s International Air Show. It is an analysis prepared by Boeing every year since the beginning of the jet age and was first publicly shared in the early 1960s.

The report, and a feature which provides an interactive database of forecast numbers, can be found at www.boeing.com/cmo