Boeing forecasts more than 35,000 new airplanes

Boeing Co. contributed $1 million to President Barack Obama's second inauguration.

SEATTLE -- On Tuesday, Boeing will release it's Annual Market Outlook, which projects a demand for more than 35,000 new airplanes over the next 20 years. The plane orders are valued at $4.8 trillion dollars.

According to Boeing, single-aisle planes will drive the forecast with 24,670 planes needed.

Boeing predicts 8,590 wide-bodies, like the 777 and 787 Dreamliner, will be ordered over the next two decades.

Both passenger and cargo air-traffic is expected to increase 5 percent annually.

The full report can be read HERE.