Tuesday, August 25, 2015
Boeing Projects Skyrocketing Demand in China Despite Market Volatility
|Boeing projects huge demand for passenger aircraft in China. Photo: Boeing|
[Avionics Today 08-25-2015] Boeing has released its annual China Current Market Outlook (CMO), projecting a demand in the country for 6,330 new airplanes over the next 20 years with an estimated total value of $950 billion for the new planes. As China looks poised to become the world's largest domestic air travel market, Boeing is forecasting demand for 4,630 single-aisle airplanes through 2034. This sector is driven by growth in new carriers and low-cost airlines in developing and emerging markets, as well as continuous expansion in established airlines.
"Despite the current volatility in China's financial market, we see strong growth in the country's aviation sector over the long term," said Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes. "Over the next 20 years, China's commercial airplane fleet will nearly triple: from 2,570 airplanes in 2014 to 7,210 airplanes in 2034, with more than 70 percent of these deliveries accommodating growth."