Boeing predicts $5.2T plane market through 2033

|About: The Boeing Company (BA)|By:, SA News Editor

Boeing (BA) expects global plane demand to rise exponentially in the next two decades, stating that the world will need ~37k new jets worth $5.2T by 2033. The new estimate is up 4.2% from the company's 2013 forecast.

The aircraft-maker also expects to beat Airbus (EADSF) in the "twin-aisle plane" market during the next 20 years. Boeing's 787 and 777X jets are already supplying 65% of all current orders, as Airbus lags behind taking the other 35%.

"If Airbus doesn't do something with their product strategy, they're headed to 30-35% market share in deliveries of next-generation twin-aisle aircraft," says Boeing VP of Marketing Randy Tinseth.

Airbus is still debating whether to revamp its aging A330 into a new cost efficient and updated jet called the A330neo.

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