Boeing has forecast that China will need 5,260
new commercial airplanes valued at $670 billion over the next 20
years. The country is expected to be the second largest market for
new commercial airplanes.
"It's impressive that over 75% of the
demand in China will be for growth instead of replacement," said
Randy Tinseth, Boeing Commercial Airplanes vice president of
Marketing. "Sustained strong economic growth, growing trade
activities and increasing personal wealth are some of the driving
forces. Travelers also care about increased connectivity,
efficiency and lower prices."
Boeing predicts that small
and intermediate twin-aisles, such as the
Boeing 787 Dreamliner
and 777, will account for a significant part of future deliveries.
These airplanes are expected to be the highest value segment,
making up 48% of the market in value with some 1,190 new
The expansion of the Chinese
market has also unleashed pent-up demand for broader international
"We expect Chinese carriers to experience rapid
international expansion over the next 20 years, with an annual
increase rate of 8.9% on average. That's not only because
the market demand is growing, but because Chinese carriers now have the capability and resources to compete in the tough
long-haul international market," Tinseth added.
China will also help fuel a strong demand for single-aisle
aircraft, with total deliveries of single-aisle airplanes reaching
3,650 through 2031.
Worldwide, Boeing projects investments of $4.5
trillion for 34,000 new commercial airplanes to be delivered
during the next 20 years.
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 world's newest and most
innovative airplane, the Boeing 787 Dreamliner.
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