Manufacturers tend to highlight trends such as the burgeoning middle class in emerging markets as key drivers for rising commercial aircraft demand. But the single most important factor is something less strategic: fleet replacement. According to Airbus’s latest global market forecast (GMF), more than 10,000 aircraft will be replaced in the next 20 years. Airbus predicts a total output of 27,000 new single-aisle and larger airliners by 2032. Those will be built by Airbus, Boeing, ...


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