Boeing sees $5.2 trillion jet market

Boeing Co made its most bullish 20-year forecast for jetliner demand since 2011, saying on Thursday the world will need 36,770 new planes worth $5.2 trillion by 2033. The company's annual projection is up 4.2 per cent from its 2013 forecast, and it predicted beating rival Airbus Group NV in the lucrative market for twin-aisle planes as the planes are built and delivered over the next two decades. ‘If Airbus doesn't do something with their product strategy, they're headed to 30-35 per cent market share’ in deliveries of next-generation twin-aisle aircraft, Randy Tinseth, Boeing's vice president of marketing, told reporters in a briefing. Boeing's 787 and 777X jets already make up 65 per cent of all current orders, with the Airbus A350 accounting for the rest, and that gap will widen unless Airbus develops another jet as a competitor, he said. Planes are delivered years after orders are placed, so the final numbers may change as airlines change their plans. Airbus has disputed Boeing's numbers, saying it is already winning most orders in twin-aisle aircraft when looking at recent years. Airbus is considering embarking on development of such a jet, and may launch the project at the Farnborough Airshow next week. The jet, dubbed the A330neo, would be a revamped version of Airbus' twin-aisle A330 jetliner with new efficient engines made by Rolls-Royce Holdings PLC, according to Reuters.