Boeing values global aerospace, defence market at $8.7 trillion over next decade

Boeing Co on Tuesday said it values the aerospace and defence market at $8.7 trillion over the next decade. This includes the $3.1-trillion projected demand for commercial airplanes through 2028 as operators replace older jets with more capable and fuel-efficient models, and expand their fleets to accommodate the steady rise in air travel across emerging and established markets.

“A strong commercial aviation industry, stable defence spending and the need to service all platforms throughout their lifecycle are driving a growing aerospace and defence market,” Boeing said in its Market Outlook that was released in France today during the Paris Aero Show.

The latest commercial market outlook by Boeing Co shows growing passenger volumes and increasing airplane retirements will drive the need for 44,040 new jets, valued at $6.8 trillion over the next two decades and up 3% from a year ago.