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Boeing expects the number of commercial planes in service around the world to double in the next 20 years, as per estimates published on Sunday, foreseeing a slightly larger increase than competitor Airbus.

Compared to 24,500 last year, the American aircraft maker predicts 48,575 aircraft will be in operation in 2042. To accomplish this, all manufacturers will need to build a total of 42,595 aircraft, with half of those being used to replace current aircraft and the other half being to account for growth.

A total of 33% of these new aircraft will be used by North America, 22% by Asia-Pacific, 21% by Eurasia, and 20% by China.

The projections, which were released on the eve of the start of the Bourget air show in Paris, are in line with those made by Boeing last year when it predicted that there would be 47,080 aircraft in the world's fleet by the year 2041.

On Wednesday, rival manufacturer Airbus said it anticipated a need for 40,850 new passenger and cargo planes by 2042, which brings the world fleet to a total of 46,560 aircraft.

The Head of Commercial Marketing at Boeing, Darren Hulst, said that the industry is now "shifting from a recovery mindset back to the fundamentals that drive air travel", following the shock to air travel demand brought on by the Covid-19 pandemic.

Hulst emphasized the correlation between the tendency to travel and the global GDP, which he predicted would increase significantly over the next two decades, bringing 500 million more people into the middle class and perhaps increasing the number of air travelers.

Additionally, Boeing expects that the combined fleet of low-cost airlines will more than double over the next 20 years, marking a significant increase from the previous 20 years. The company also anticipates continued robust demand for cargo aircraft, with air freight traffic growth outpacing that of global trade as a whole.