Aircraft maker Boeing recently announced that it will increase the monthly production of its 737 airplanes to around 50 in 2017.

Currently, Boeing produces 38 airplanes per month from its Renton, Washington factory. Boeing will increase the production rate to 42 per month in the first half of 2014. The production increase of 737 aircrafts is not expected to have a major effect on the company's 2013 financial results.

The short- to medium-range twin-engine narrow-body Boeing 737 is one of the best-selling jet airliner. The Boeing 737 was mainly developed as a shorter and lower-cost twin-engine airliner with a capacity of 85 to 215 passengers.

The Boeing 737-100 first offered airline service in February 1968. In the 1990s the company introduced the 737 Next Generation, which had multiple changes including a redesigned wing, upgraded cockpit and new interiors.

Since 1967, Boeing has been continuously making the 737 and has delivered 7,755 aircrafts and has thousands of orders to fulfil by worldwide airline operators. The main assembly center for the aircraft is located at Renton, Washington and the aircraft currently competes primarily with the Airbus A320.

"We're taking this step to make sure our airplanes get into the hands of our customers when they need them," said Beverly Wyse, vice president and general manager, 737 Program, Boeing Commercial Airplanes. "Our employees and our suppliers have successfully increased the production rate to unmatched levels over the last three years. This increase will lay a solid foundation as we bridge into production on the 737 MAX."

The Boeing 737 has 266 customers worldwide who have already placed orders of 11,200 single-aisle airplanes, which includes around 6,500 orders for the Next-Generation 737 and over 1,600 orders for the 737 MAX. Boeing also has unfilled orders of around 3,400 for the 737 family.