Boeing anticipates Chinese airlines will require 8,090 new aircraft by 2040
US aircraft manufacturer Boeing predicts Chinese airlines will need 8,090 new airplanes in the next 20 years, worth US$1
US aircraft manufacturer Boeing predicts Chinese airlines will need 8,090 new airplanes in the next 20 years, worth US$1.3 trillion, and the country will need $1.6 trillion in aviation services to meet airplane passenger traffic demand in China that is forecast to expand by six per cent annually.
According to its latest China Commercial Market Outlook, Boeing said the total demand for aircraft and services represents a seven per cent increase over its 2018 forecast.
Boeing vice president Randy Tinseth was quoted as saying in a report by Asian Aviation, Singapore: 'An expanding middle class, significant investment in infrastructure, and advanced technologies that make airplanes more capable and efficient, continue to drive tremendous demand for air travel.'
Single-aisle airplanes are expected to remain the foundation of China's domestic and regional fleets, according to Boeing's report. The company said China would need 5,960 new single-aisle airplanes, representing 74 per cent of total new deliveries. The country will also need 1,780 new widebody aircraft, which will triple the country's current fleet size.
'China's rapidly growing e-commerce and express delivery market will make air cargo a key growth driver as 230 new freighters and 500 converted freighters will be needed,' Boeing said in the report.
The company also said China's $1.6 trillion services market will include $935 billion in ground and cargo operations services, $390 billion in maintenance and engineering services, $200 billion in flight-operations services and $90 billion in marketing, customer service and corporate services.
Worldwide, Boeing projects the need for 44,040 new commercial airplanes over the next two decades valued at $6.8 trillion.