Boeing projects a demand for 7,240 new airplanes in China over the next 20 years, the manufacturer said. That demand would have a value of nearly $1.1 trillion. Boeing, which claims to be China’s leading provider of commercial airplanes, released its annual China Current Market Outlook Wednesday in Beijing.
"China's continuous economic growth, significant investment in infrastructure, growing middle class and evolving airline business models support this long-term outlook," said Randy Tinseth, VP of marketing for Boeing Commercial Airplanes. "China's fleet size is expected to grow at a pace well above the world average, and almost 20% of global new airplane demand will be from airlines based in China."
The outlook’s increase in demand is 6.3% over last year’s forecast.
According to Boeing, single-aisle airplanes are most popular in China, in both domestic and regional fleets. The manufacturer said it sees a need for 5,420 new singe-aisle airplanes through 2036, which would account for 75% of total new deliveries. That configuration has been increasing its presence in full-service airlines and low-cast carriers. Boeing said that according to Tenseth, backlog from Chinese customers demonstrates the 737 MAX 8 remains “at the heart” of the single-aisle market.
Boeing’s wide-body fleet forecast said that over the next 20 years, China will require 1,670 new airplanes.
"China's outbound travel market continues its rapid growth toward 200 million passengers annually," Tinseth said. "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."