Boeing Raises Global Commercial Aircraft Demand Forecast

Boeing Co BA lifted its projections for the global commercial aircraft market over the next 20 years. Boeing now projects demand for 33,500 aircraft worth an aggregate $4 trillion, up from its earlier long-term market forecast for 30,900 new commercial aircraft worth $3.6 trillion. Boeing now expects passenger traffic to grow at a 5.1% annual rate over the long term, and the world commercial aircraft fleet to double by 2030. Boeing projects single-aisle jets to make up 70% of the world fleet by 2030, versus 62% last year. Boeing shares dropped 0.07% to $73.80 in after-hours trading. Read more from Benzinga's Company news.