World fleet to double in 20 years

Boeing is projecting a $4.5 trillion market for 34,000 new airplanes over the next 20 years as the current world fleet doubles in size, according to the Boeing 2012 Current Market Outlook released Tuesday. The company's annual forecast reflects the strength of the commercial aviation market. Airline traffic is forecasted to grow at a 5 percent annual rate over the next two decades, with cargo traffic projected to grow at an annual rate of 5.2 percent. The single-aisle market will continue its robust growth. (Source: Boeing, 07/03/12) Gulf Coast note: Boeing competitor Airbus is establishing an A320 assembly line in Mobile, Ala., to help it meet high demand for single-aisle jetliners. The A320 family of planes competes with Boeing’s 737 and its future 737 MAX.