Boeing has increased its plane demand forecast by 4.2 percent from its 2013 forecast, saying there is a need for 36,770 planes in the next two decades.
In total, the planes will cost an estimated $5.2 trillion.
"This market is strong and resilient," Randy Tinseth, Boeing’s vice president of marketing, said in a statement. "With new and more efficient airplanes entering service, the growth in air travel is being driven by customers who want to fly where they want, when they want."
The vast majority of the new plane deliveries will come from the single-aisle market, with 25,680 new planes expected by 2034. Large widebody planes will account for the fewest deliveries, at 620. Regionally, Boeing expects the Asia-Pacific to receive the majority of the planes (13,460), followed by North America (7,550) and Europe (7,450).
In its most recent outlook for freighters, Boeing predicted that there would be demand for 2,300 converted and new freighters between 2012 and 2032. The 850 new deliveries will be valued at $240 billion.