It is important to understand that demand for air transport will be driven by global economic growth which will, in turn, contribute to that growth. The need to expand the existing fleet to meet growing demand, plus the need to replace older airplanes with new, better ones, creates a market for 27,210 new airplanes worth $2.6 trillion to be delivered over the next twenty years.Boeing and their planes have an extraordinary history and have played an integral role in defining America's position in the world. They have made some extraordinary business decisions, such as betting the company on the 747...and outmaneuvering Airbus with the development of the Dreamliner.
Beyond the ability to create one of the foremost manufacturing capabilities in the world, they have also developed a reputation for very accurate market forecasts (see sidebar). So when Boeing forecasts that demand for airliners from the Asia Pacific region will be greater than North America or Europe, one should take comfort that the numbers are reasonably accurate.We are entering an age of global air travel where it will be just as easy to fly to New Delhi from Chicago as it is from Raleigh to Moline.
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