State Commerce Department executives and leaders of a number of South Sound aerospace suppliers are in Farnborough, United Kingdom, this week for the biennial aviation trade show.
Their presence supports Boeing as one of the largest exhibitor firms, promoting its commercial airliner products, as well as jetliner service options and military products.
In addition to announcing new orders, Boeing also released its new 20-year market outlook today, which projects a 4.1 percent increase in new airplane deliveries over the 2015 forecast. The new outlook is for 39,620 new planes with an estimated total value of $5.9 trillion.
“Despite recent events that have impacted the financial markets, the aviation sector will continue to see long-term growth with the commercial fleet doubling in size,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “We expect to see passenger traffic grow 4.8 percent a year over the next two decades.”
The single-aisle market will be especially strong, with low-cost carriers and emerging markets driving growth. And the Asia market, including China, will continue to lead the way in total airplane deliveries.
This full report is available at this link.