Boeing released a 20-year market outlook this week, replacing its original 2015 forecast with a new 4.1 per cent projected increase. The company assumes demand for almost 40,000 new aircraft through 2035, with a large portion of the demand attributed to Asian buyers. The estimated total value of the new aircraft is $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. We expect to see passenger traffic grow 4.8 per cent a year over the next two decades,” said Randy Tinseth, vice president of marketing, Boeing Commercial Airplanes. The Asian and Chinese travel markets are projected to fuel new aircraft need, with an anticipated demand of 15,130 new aircraft by 2035. In second place and at almost half the required necessary aircraft is North America at 8,330 new planes. Europe follows close behind at 7,570, before numbers drop again, with the Middle East, Latin America, Africa and CIS requiring fewer than 3,500 each. With the strong growth of Asian carriers offering regional and budget flights, single-aisle jets are in hottest demand, accounting for 28,149 of the world’s 39,620 Boeing deliveries in the next two decades. Other high-demand aircraft types include small widebody, medium widebody and regional jets. “There’s no question the heart of the singe-aisle market is around the new Boeing MAX 8 and the current 737-800. Airplanes that size already account for 76 per cent of the global single-aisle backlog, and our products have the clear advantage in that space,” added Tinseth. Cargo freighter demand is also projected to grow, by 4.2 per cent per year for 20 years. Boeing anticipates a need for 930 new freighters and 1,440 converted freighters.