on Thursday said it projects Chinese airlines will need more than 5,500 new aircraft valued at $780 billion over the next 20 years, a 6 percent increase over its estimate from last year.
(Chinese carrier Hainan Airlines took delivery of its first Boeing 787 Dreamliner in June. Photo, courtesy of Boeing.
In its annual sales forecast, the airframe manufacturer attributes the increase to growing demand for single-aisle and wide-body aircraft as air travel demand in the Asia-Pacific region continues to surge.
China is the world's second biggest aircraft market and the focus of Boeing's long-term global strategy. Currently more than 50 percent of the commercial aircraft fleet operated by Chinese airlines are produced by Boeing.
"Thanks to strong economic growth and increased access to air travel, we project China traffic to grow at nearly 7 percent each year," said Randy Tinseth, vice president of marketing at Boeing.
Last year, Boeing rival Airbus
forecasted it would deliver 4,270 aircraft to China over the next 20 years, and the European airframe manufacturer plans to release its revised numbers later this month.
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