BUSINESS BRIEFING / AEROSPACE

Boeing Co. has lowered its 20-year forecast for the commercial airplane market for the first time in at least a decade, citing the global recession, declining passenger and cargo traffic and unpredictable fuel prices.

The world’s second-largest airplane maker said it expected a market for 29,000 new passenger and cargo jets valued at $3.2 trillion over the next two decades. That’s down 1.4% from a forecast last year of 29,400 planes, also valued at $3.2 trillion. The value is unchanged because of inflation.