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Aviation giant Boeing today raised its forecast for aircraft demand, saying it now expects to deliver 36,770 planes over the next two decades in deals worth $5.2 trillion.
Boeing's latest forecast is up 4.2% from last year's, with about a third of the total demand expected to arise from the Asia-Pacific region.
The maker of the best-selling 737 jetliner said single-aisle planes underpin the higher forecast.
"Based on the overwhelming amount of orders and deliveries, we see the heart of the single-aisle market in the 160-seat range," said Randy Tinseth, vice president for marketing at Boeing Commercial Airplanes.
"There's no question the market is converging to this size, where network flexibility and cost efficiency meet."
Deliveries for single-aisle aircraft -- which include the new 737-800 and 737 MAX 8 -- are expected to reach $2.56 trillion.
In the twin-aisle segment, including the 787-8 and 787-9 Dreamliner range, the company expects to deliver 8,600 new airplanes.
"This year's forecast reflects a continued shift in demand from very large airplanes to efficient new twin-engine products such as the 787-10 and new 777X," according to the Boeing statement.
The forecast was published ahead of next week's key biennial Farnborough airshow in England, where Boeing and European rival Airbus go head-to-head in the fight for new plane orders.
