Good news for shareholders of Boeing Co. (NYSE: BA), and Airbus as well. Boeing raised its 20-year demand forecast for commercial planes by 3.8% to 35,000.

According to the revised Boeing forecast:

Boeing projects a demand for more than 35,000 new airplanes over the next 20 years, valued at $4.8 trillion. The company released its annual Current Market Outlook (CMO) today in Paris, forecasting 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. “Airlines are demanding more efficiency and that is exactly what we’ll be giving them.”

The single-aisle market, served by Boeing’s Next-Generation 737 and the future 737 MAX, is the main driver of the forecast and continues to show strength. 24,670 new airplanes will be needed in this segment due to the growth of low-cost carriers and airlines from emerging markets.

Widebodies, such as Boeing’s 747-8, 777 and 787 Dreamliner, also make up a large part of the forecast. 8,590 new airplanes will be needed in this segment, fueled in part by airlines replacing their older fleet with new, more fuel-efficient airplanes.

New Airplane Deliveries: 2013-2032
Airplane type	Seats	Total deliveries	Dollar value
Regional jets	90 and below	2,020	$80B
Single-aisle	90 – 230	24,670	$2,290B
Small wide-body	200 – 300	4,530	$1,100B
Medium wide-body	300 – 400	3,300	$1,090B
Large wide-body	400 and above	760	$280B

New Airplane Deliveries: 2013-2032
Region	Airplane deliveries
Asia-Pacific	12,820
Europe	7,460
North America	7,250
Latin America	2,900
Middle East	2,610
C.I.S.	1,170
Africa	1,070
World Total	35,280

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