Boeing Projects $4.7 Trillion Market For New Airplanes, Services

Compiled ByJill Jusko The Boeing Co. projects a $4.7 trillion market for new commercial airplanes and aviation services over the next 20 years and a worldwide fleet that will double to nearly 33,000 jets by 2020. Of that 33,000, 18,400 will comprise new aircraft to accommodate market growth, 5,100 will serve as replacements, and 9,500 are the approximate number of aircraft currently flying, says the Seattle-based company in its 2001 Current Market Outlook. The forecast was released last week during the Paris Air Show. "The shift from a regulated to liberalized market has increased competition among airlines and is forcing them to operate at much higher levels of efficiency to remain profitable," says Randy Baseler, Boeing Commercial Airplanes Group vice president -- marketing.