DUBLIN, IRELAND — Irish lessor Avolon predicts Airbus' narrow-body growth, Boeing's wide-body supremacy through 2042.

European aircraft manufacturer Airbus is projected to enhance its supremacy in the production of narrow-body jets, a key segment of the commercial aircraft market, over the next twenty years, while its American competitor, Boeing, is expected to retain its dominance in the manufacture of wide-body planes, according to a recent forecast.

Avolon Holdings Ltd., a leading jet lessor, predicted in its World Fleet Forecast released Tuesday that the global fleet will nearly double in size to 46,880 passenger aircraft by 2042. The largest growth is anticipated in the narrow-body aircraft segment, with an annual growth rate of 3.8%.

Airbus, producer of the best-selling A320neo series of single-aisle jets that competes with Boeing's 737 Max, is expected to raise its percentage of the in-service narrow-body fleet from the present 53% to 58% over the next two decades, Avolon highlighted.

On the other hand, Boeing, known for its 777 and 787 Dreamliner wide-body planes, will retain its existing 59% market share of twin-aisle jets in service until 2042, the report emphasized.

Avolon, headquartered in Dublin, ranks amongst the world's most substantial jet-leasing companies. The firm attributes the rising demand and increasing aircraft valuations to the post-pandemic recovery in travel, causing aircraft manufacturers to expedite production. The report estimates that new aircraft deliveries through 2042 will necessitate $4 trillion in capital.