Boeing and Airbus will dominate the market for next 10 years says report

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Boeing and Airbus are set to dominate the large commercial jet market over the next decade, according to a new report.

Market research firm Forecast International predicts that 9,528 large commercial jets, valued at $986 billion, will be produced between 2007 and 2016.

Boeing will build nearly 56% of these aircraft and Airbus will build 43%. A handful of Russian and Ukrainian companies are expected to account for the remaining 1%, the report says.

Forecast International senior aerospace analyst Raymond Jaworowski said: "It is difficult to overestimate just how much the 787 has turned Boeing's fortunes around.

"Boeing correctly saw that airlines wanted a new, efficient airliner in the mid-size capacity class."