UPDATE 1-Boeing upgrades jetliner demand forecast
SEATTLE/PARIS, June 11 (Reuters) - Boeing on Tuesday upgraded its 20-year forecast for airplane demand, saying airlines will need 35,280 new jets worth $4.8 trillion as the world's fleet doubles over the next two decades.
The bullish new forecast shows a 3.8 percent increase from Boeing's prior rolling 20-year outlook, anticipating a surge in Asia-Pacific travel that will keep production rates at jet factories rising.
Boeing said passenger and cargo traffic, both indicators of economic activity, are expected to grow 5 percent annually.
Airlines will need 24,670 single-aisle jets worth $2.29 trillion at list prices, according to the latest forecast, up from 23,240 forecast last year. These include the industry's most-sold models like the Boeing 737 and Airbus A320.
But among larger and smaller planes, the trend is for less or flat demand compared with previous forecasts, Boeing said.
The forecast for twin-aisle planes such as the Boeing 777 and 787 and the Airbus A330 and A350 fell 1.5 percent to 7,830, compared with last year's forecast, Boeing said.
For Boeing 747 and Airbus A380 jumbo jets, the forecast fell 3.8 percent to 760 planes, from 790 aircraft forecast last year.
The forecast for regional jets made by Bombardier and Embraer was unchanged at 2,020 aircraft.
Global passenger traffic will rise about 5 percent this year, matching the long-term trend, and slightly faster in 2014, said Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes. Continued...