Boeing raises forecast for new airplane demand

Chicago-based Boeing is raising its long-term forecast for new airplane demand by more than 4 percent and it's still the Asia-Pacific region that is driving most of the growth.

Boeing expects orders of 36,770 new airplanes over the next 20 years, with total list prices valued at an estimated $5.2 trillion.

Low-cost carriers are helping to fuel the fastest growing segment of the market, single-aisle airplanes. Those aircraft make up 70 percent of all orders.

Boeing says about 37 percent of the airplane deliveries will be made in the Asia-Pacific market, with North America and Europe the next two most common destinations.

Boeing says the market for airplanes is strong and resilient.

Shares of the Chicago company hit an all-time high this year, but have fallen almost 8 percent this month.