Boeing: China will need a lot of airplanes

Specifically, 7,240 over the next 20 years, worth about $1.1 trillion.

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The Boeing Co. (Chicago, IL, US) has issued a report projecting a demand in China for 7,240 new airplanes in the country over the next 20 years, valued at nearly $1.1 trillion dollars. Boeing's annual “China Current Market Outlook” (CMO) shows total Chinese airplane demand rising 6.3% over last year's forecast.

Single-aisle airplanes continue to be the foundation of domestic and regional fleets in China. Boeing sees the need for 5,420 new single-aisle airplanes through 2036, accounting for 75% of the total new deliveries. Full-service airlines and low-cost carriers have been adding new single-aisle airplanes and expanding new point-to-point services to cater for leisure and business travel demand in China and throughout Asia.

"China's continuous economic growth, significant investment in infrastructure, growing middle class and evolving airline business models support this long-term outlook," says Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. "China's fleet size is expected to grow at a pace well above the world average, and almost 20 percent of global new airplane demand will be from airlines based in China."

Tinseth says the backlog from Chinese customers demonstrates that the new 737 MAX 8 remains at the heart of the single-aisle market.

Boeing forecasts the widebody fleet over the next 20 years will require 1,670 new airplanes. The company says airlines continue to shift to small and medium widebody airplanes for long-haul expansion and flexibility. Primary demand for very large widebodies going forward will be in the freighter market.

"China's outbound travel market continues its rapid growth toward 200 million passengers annually," says Tinseth. "With new technologies, superior capabilities and advanced efficiency, the 787 and 777X families will play a key role in supporting the growth of China's long-haul market."

Worldwide, Boeing projects the need for 41,030 new commercial airplanes over the next 20 years, valued at $6.1 trillion dollars. The complete China Current Market Outlook is available at www.boeing.com/cmo.

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