Boeing forecasts demand in China for 6,810 airplanes

Boeing projects a demand for 6,810 new airplanes in China over the next 20 years. Boeing released its annual China Current Market Outlook (CMO) on September 13, in Beijing, estimating the total value of those new airplanes at US$1.025 trillion. China becomes the first trillion dollar aviation market in Boeing’s forecast. “As China transitions to a more consumer-based economy, aviation will play a key role in its economic development,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “Because travel and transportation are key services, we expect to see passenger traffic grow 6.4% annually in China over the next 20 years.” Boeing predicts China will need 5,110 new single-aisle airplanes through 2035, accounting for 75% of the total new deliveries. Low-cost carriers and full-service airlines have been adding airplanes and expanding new point-to-point services to cater for both leisure and business travel demand from a rising middle class in China and throughout Asia. Boeing forecasts the widebody fleet will triple in size, requiring 1,560 new airplanes such as the 787, 777 and 777X. This year’s forecast reflects a continued shift from very large airplanes to efficient new small and medium widebody airplanes. China’s single-aisle fleet currently accounts for about 18% of global single-aisle aircraft; however, China’s widebody fleet only represents approximately 5% of the global widebody segment.