Boeing sees demand in China for 6,330 airplanes valued at nearly US$1 trillion

Boeing projected a demand for 6,330 new airplanes in China over the next 20 years. Boeing released its annual China Current Market Outlook (CMO) on August 25th, 2015, in Beijing, estimating the total value of those new airplanes at US$950bn. “Despite the current volatility in China’s financial market, we see strong growth in the country’s aviation sector over the long term,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “Over the next 20 years, China’s commercial airplane fleet will nearly triple: from 2,570 airplanes in 2014 to 7,210 airplanes in 2034, with more than 70%bof these deliveries accommodating growth.” As China becomes the world’s largest domestic air travel market, Boeing is forecasting demand for 4,630 single-aisle airplanes through 2034. This sector is driven by growth in new carriers and low-cost airlines in developing and emerging markets, as well as continuous expansion in established airlines. In fact, the efficiency and flexibility of single-aisle aircraft like the 737 helps Chinese carriers connect and stimulate growth along the Economic Belt as part of the One Belt, One Road Strategy. Boeing forecasts that the widebody segment will require 1,510 new airplanes, led by small and medium widebody airplanes such as the 777-300ER (Extended Range), 777X and the 787 Dreamliner. Tinseth stressed that Chinese airlines have more than doubled their long-haul international capacity over the past three years, in large part following the delivery of 747-8 Intercontinental airplanes to Air China and 777-300ERs and 787s to several leading Chinese carriers.