The Boeing 2010 Current Market Outlook (CMO) says the value figure translates to 30,900 passenger and freighter airplanes by 2029.

"The world market is doing much better than last year, but there are still challenges," said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes.

"Looking at 2010, we see a world economy that continues to recover. We expect the world economy to grow above the long-term trend this year. As a result, both passenger and cargo travel will grow this year. Airline revenue and yields are up, but fuel prices remain volatile."

Boeing said it expects passenger traffic to grow at a 5.3 per cent annual rate over the long-term.

It also tips the world freighter fleet will increase from 1,750 to 2,980 planes -- an increase of more than two-thirds.

This growth will require 2,490 freighters. Additions to the fleet will include 740 new-production freighters (worth US$180 billion at today's catalogue prices) and 1,750 airplanes converted from passenger models. Large (more than 88.2 tons capacity/80 tonnes) freighters will account for 520 new-build airplanes. Medium (44.1 to 88.2 tons/40 to 80 tonnes) freighters will total 210 airplanes. Virtually all of the standard-body freighters (49.6 tons/less than 45 tonnes) are expected to come from conversions of passenger airplanes.