Boeing plans to hike global airplane deliveries [Video]

U.S. planemaker Boeing raised its industry-wide annual 20-year forecast for new jetliner deliveries by three per cent to 43,975, propelled by the strength of passenger demand, rising airline competition and the eventual replacement older less efficient planes.

Aviation was hit hard by the pandemic that saw air travel collapse only to bounce back sharply. That has left many firms scrambling to resolve labour and parts shortages and other supply chain issues. Manufacturers like Boeing and Airbus are struggling to keep up with significant demand and airlines face multi-year waits to get new airplanes.

Boeing, which updated its forecast on the eve of the Farnborough Air Show outside London that opens on Monday, said airlines will need a rising number of planes through 2043.