The airplane maker and defense contractor predicted on Tuesday that $4.5 trillion worth of planes will be sold. It will have to compete with Airbus and other competitors including Bombardier, Embraer, and China's state-owned COMAC for those sales.
The projection is 500 planes higher and a half-trillion dollars more expensive than the previous year's estimate. Boeing expects airlines to shift toward slightly larger planes with higher price tags, accounting for most of the additional spending.
The world's airlines fly almost 20,000 planes today. That number is expected to rise to almost 40,000 by 2031, Boeing says.
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