Speaking at the Accelerate Aviation 2018 event in London this week, Boeing chief economist, commercial airplanes Jan Hogrefe said 42,700 new aircraft will be needed between now and 2037.
Demand is being driven by the Asia-Pacific region, he added, with 16,930 more aircraft required, followed by 8,800 in North America while Europe will need 8,490.
While many of he new aircraft will be replacing existing metal in fleets, they will also drive global growth.
Hogrefe said: "There’s a lot of growth in the emerging markets. There’s also a lot of aircraft that are over 25 years old which need to be replaced and understanding the dynamics of those replacements is a big part of our industry.
"A lot of the new aircraft are going top be medium sized with airlines opening new routes in secondary cities in Europe and North America. You won’t need to fly New York – London."