Boeing (NYSE: BA) Wednesday increased its 20-year forecast for global commercial jetliner deliveries for the sector by 2.8%, forecasting that demand for fuel-efficient replacement aircraft will outweigh capacity reductions by U.S. carriers.

Encompassing all airline manufacturers in the sector, Boeing now expects a market for 29,400 new commercial airplanes (passenger and freighter) by 2027, up 2.8% from its previous estimate of 28,600. Boeing added that the forecast factors-in the sector's near-term challenges, including a slowing global economy, surging fuel prices, slowing traffic growth in some markets, and a concerted action by airlines to lower costs.

Shares of Boeing (NYSE: BA) gained 25 cents to $66.18 on the news in Wednesday afternoon trading, despite a 131-point market sell-off in the DJIA.

Boeing added that single-aisle airplanes will make up the bulk of the sector's deliveries during the next 20 years. Strong domestic and intra-regional air travel growth in emerging Asia-Pacific markets, along with continued growth of low-cost carriers worldwide, is driving demand in this segment, the company said. Orders from Asia will comprise 31% of the deliveries; North America, 29%; and Europe/Asia, 27%.

Sure it's two years late, but that does not take away from the excitement as the first Airbus A380 Superjumbo plane was delivered today. The first company to get the revolutionary plane is Singapore Airlines, which is now the proud owner of the world's largest passenger plane.

It was definitely a rocky road for Airbus maker European Aeronautic Defence and Space Co. (LSE: EAD). Delays on this project have taken their toll on the company in terms of personnel, profits and reputation. On the road to today's product handover, Airbus has torn through 5 CEOs, billions of dollars in extra costs, and a restructuring plan that will likely result in the loss of around 10,000 jobs. As if that's not bad enough, the company is also dealing with the fact that Boeing (NYSE: BA) was able to take its #1 sale spot in 2006.

While it is great to see the new A380 being delivered, it would be foolish to think that this marks of the end of hard times for the company. There is still an ongoing investigation in Airbus' parent company EADS over "massive insider trading" that the French Financial Markets Authority has claimed to uncover in its preliminary investigation into trading allegations against the company's senior managers.