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Over the next 20 years, Airbus and Boeing, predict the Aerospace industry to grow by 4-4.9% annually. Projections of the global fleet of passenger and cargo aircraft demonstrate growth from just over 23,000 to over 48,000 units by the end of 2037. This growth will be supplemented by an addition of up to 42,000 new aircraft to replace older models and increase the global fleet of passenger and cargo aircraft. With the anticipation of new builds, the aerospace industry is evaluated to increase to a $7.9 trillion market while providing businesses with an opportunity to transport their goods faster, safer and at a lower cost than previously possible.
