Quizmonster's 30 years is right if the word is being used about generations of human beings or in a general historic sense - eg "WW2 took place two generations ago". But when used in respect of animals, machines etc it can be a much shorter period - eg "every year we see a new generation of computers".
the time taken to generate new offspring so humans become fertile at 16 years say but can have children ostesibly untill they die (men) generations overlap so for historical purposes a lifetime three score and ten is a generation eg generations of men