Boeing Projects China Will Need 5,000 New Airplanes Over Next 20 Years

Boeing has projected that China will require 5,000 new commercial airplanes valued at $600 billion over the next 20 years.

“Sustained strong economic growth, growing trade activities, increasing personal wealth and income, as well as continued market liberalization will be the driving forces in shaping China’s air travel market,” said Randy Tinseth, Boeing Commercial Airplanes vice president of Marketing. “We expect China will be the second largest country taking new commercial airplane deliveries due to its air travel demand growing at an annual rate of 7.6% on average.”

Boeing forecasts that small and intermediate twin-aisles, such as the Boeing 787 Dreamliner and 777, will be a significant part of these deliveries. Boeing expects they will constitute over 40% of the market in value, with some 1,040 deliveries anticipated.

As a result of the boost for China’s inbound tourism, the single-aisle market is also projected to remain strong, with total deliveries reaching 3,550.

With China’s cargo markets leading the global industry, Chinese air carriers will add about 400 freighter airplanes by 2030. Tinseth said the majority of the demand will be for large, long-range freighters such as the 747-8F and 777F, given that most traffic growth is projected to occur on long-haul traffic lanes tied to China.

Worldwide, Boeing projects investments of $4 trillion for 33,500 new commercial airplanes to be delivered during the next 20 years.

Directly and through subsidiaries and joint ventures, Boeing China employs 6,000 workers. Boeing and China’s long history of cooperation and mutual benefit dates back to 1916. More than 50% of all the commercial jetliners operating in China are Boeing airplanes. Today, some 6,000 Boeing airplanes fly throughout the world with integrated China-built parts and assemblies. China has a component role on every current Boeing commercial airplane model – the 737, 747, 767, 777, as well as the Boeing 787 Dreamliner.

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