Boeing maintained its forecast for strong global demand for new commercial aircraft over the next 20 years, according to the US planemaker’s market projection released in England on Saturday, ahead of the Farnborough Airshow.

The forecast was almost identical to its 2025 outlook. Boeing anticipated industry-wide global deliveries of 43,625 new jetliners and freighters from 2026 through 2045, which included 33,545 single-aisle jets, 7,715 widebody aircraft, 930 factory-built freighters and 1,435 regional jets. This month, Boeing’s European rival Airbus trimmed its projection by 1% to 42,060 new aircraft, citing the Iran war and trade tensions.

Boeing expects air passenger traffic growth of about 2.3% this year, less than half of last year’s growth rate of 5.3%. It expects growth to rebound to 6-7% in 2027 and 5-6% in 2028.

“Our outlook is that passenger traffic globally will be where it would have been by the end of 2028,” Boeing Commercial Marketing Vice President Darren Hulst told reporters.