Boeing’s annual China Current Market Outlook forecasts China’s airlines will require 5,580 new aircraft over the next 20 years. These airliners would enable China’s air carriers to triple in size during the next two decades and have a projected order value of $780 billion.
Randy Tinseth, Vice President of Marketing, Boeing Commercial Airplanes commented: “Thanks to strong economic growth and increased access to air travel, we project China traffic to grow at nearly 7% each year. China is a key market for Boeing. Our current and future products will allow our customers to meet the growing demand with the most efficient airplanes.”
Long-haul international traffic to and from China is forecasted to grow at an annual rate of 7.2%. The international growth is primarily driven by anticipated passenger traffic between China and North America, Europe, the Middle East, Oceania and Africa.
Mr Tinseth added: “To compete in the long-haul international market, our Chinese customers are focused on growing their international networks, increasing their capacity and building resources. These trends will shape market demand for airplanes that have high efficiency, low operating costs, environmentally progressive technologies and a great passenger experience. We believe Boeing’s current and future widebody families are perfectly aligned to meet those needs.”