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Aircraft Manufacturing in the 21st Century The Challenge Ahead Financial Times Conference London by Richard James President Boeing Europe 9398 Thank you Michael and good morning ladies and gentlemen Im delighted to take part in this the 12th Annual Financial Times conference to be with all of you and to have the opportunity to share this platform with Adam Brown I also look forward to the discussion and your questions As most of you are aware this has been a rather hectic year for Boeing Weve had some extraordinary moments on the up side some major disappointments on the down side and a few moments in between It has been anything but dull and thats probably a bit understated Given the pace and intensity of the past year theres been little time for reflection I trust thats true not only from Boeings point of view but also from most anyones perspective Thats part of the reason Im grateful for this conference At least here and now we have the opportunity to step back from the pressures and deadlines of our day-to-day working world and spend a few moments to look at our industry from the vantage point of a broader horizon - aircraft manufacturing for the 21st Century Ours is an industry that can look ahead with well-founded optimism The opportunities before us are simply breathtaking Boeing forecasts that worldwide air travel will grow at nearly five percent a year for the next 20 years air cargo traffic at more than six percent annually As a result we expect the airline industry to add 17650 new jetliners worth 125 trillion to their fleets during that time - pretty serious money Here in Europe airlines will need almost 5000 airplanes second only to North America Interestingly Asias requirements are third at 4800 jetliners When you add up the numbers its no wonder Airbus and Boeing come to this conference in good humor and
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