Boeing is projecting a demand for 5,580 new airplanes in China over the next 20 years valued at $780 billion.
The company’s annual China Current Market Outlook forecasts the country’s fleet to triple in size over the next two decades.
“Thanks to strong economic growth and increased access to air travel, we project China traffic to grow at nearly seven per cent each year,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes.
“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,” Tinseth added.
Tourism in China and intra-Asia travel will help spur a strong demand for single-aisle airplanes, with total deliveries in that segment reaching 3,900 through 2032.
Tinseth said both the Next-Generation 737 and the new 737 MAX offer significant advantages in improved capabilities, fuel efficiency and maintenance costs, as well as enhanced environmental performance.
Long-haul international traffic to and from China is forecasted to grow at an annual rate of 7.2 per cent.
The international growth is primarily driven by anticipated passenger traffic between China and North America, Europe, the Middle East, Oceania and Africa.
This growth in the long-haul segment is expected to result in demand for an additional 1,440 new fuel-efficient widebodies, such as the 787 Dreamliner, 777 and 747-8 Intercontinental.
“To compete in the long-haul international market, our Chinese customers are focused on growing their international networks, increasing their capacity and building resources,” said Tinseth.
“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.”
Boeing projects investments of $4.8 trillion worldwide for more than 35,000 new commercial airplanes to be delivered during the next 20 years.
Some 7,000 Boeing airplanes fly throughout the world with integrated China-built parts and assemblies.