Boeing is continuing to predict excellent growth rates for the aviation industry over the next 20 years.

"The bottom line is that with a favorable cost environment and strengthening demand, many airlines will see opportunities for record profits in 2015."

Boeing then go on to state that "Over the next 20 years, we are forecasting a need for 38,050 airplanes valued at more than $5.6 trillion... with approximately 40 percent of all new airplanes being delivered to airlines based in the Asia Pacific region." Also that, "passenger traffic is forecast to grow by 4.9 percent and air cargo traffic by 4.7 percent" annually over the next 20 years.

Here at UNSW Aviation we are excited for our pilots and management graduates as we provide the skills and encourage them to take full advantage of this growth in the Asia Pacific region and throughout the world.

For Boeing's full long-term market outlook report, click here