Boeing's newly released Current Market Outlook (CMO) predicts the need for 30,900 new commercial airplanes, valued at $3.59 trillion, over the next twenty years. These projections are based on average increases in demand for passenger and cargo service forecast by Boeing to be 5.3% and 5.9% per year, respectively, through 2029. Last year's CMO foresaw the need for 29,000 deliveries valued at $3.22 billion, based on somewhat lower long-term growth rates of 4.9% per year for passenger traffic and 5.4% for cargo traffic.
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