European operators will need 7,760 new aircraft over the next 20 years, split equally between those intended for expansion and those used for fleet replacement.
Boeing gives the estimate in its latest Commercial Market Outlook, released on 3 July.
Most of the European demand will be for single-aisle types, accounting for 5,800 aircraft worth $520 billion, while another 1,440 will be twin-aisle airframes worth $370 billion.
Europe will also require 200 large aircraft the size of the Airbus A380 or Boeing 747, the manufacturer predicts, with the remaining demand taken up by 320 regional jets.
Speaking as the forecast was disclosed in London, Boeing Commercial Airplanes vice-president for marketing Randy Tinseth said that average European traffic growth over the 20-year period would be 4.1%.
He says that Europe will be an important region for fleet replacement during this time. Only 560 of the current 4,440 aircraft in the European fleet will be retained by 2031, the forecast states.