The American aircraft manufacturer forecasts the global airline industry will need more than 41,000 new commercial planes over the next 20 years, valued at $6.1tn.
U.S. aircraft manufacturer Boeing has projected a worldwide need for 41,030 new commercial airplanes over the next 20 years valued at $6.1 trillion. Boeing projects a demand for 7,240 new airplanes in China over the next 20 years, valued at almost $1.1trn.
The total number of aircraft is a 6.3% increase on Boeing’s forecast past year.
Nearly 20 percent of global new airplane demand will be from airlines based in the country, said Boeing in its annual China Current Market Outlook.
Single-aisle airplanes continue to be the foundation of domestic and regional fleets in China. 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. Single-aisle airplanes are used by both full-service airlines and low-priced carriers to expand point-to-point services throughout Asia. Boeing said that according to Tenseth, backlog from Chinese customers demonstrates the 737 MAX 8 remains “at the heart” of the single-aisle market.
The Chinese airline industry will need more than a trillion dollars worth of new aeroplanes in the next two decades to service a booming middle-class, USA aircraft manufacturer Boeing has estimated. Boeing sees demand for 1,670 new wide bodies with most of the demand coming from the freighter market.
China’s outbound travel market is approximately 200 million passengers annually, Tinseth said.
Today, Boeing jets are the mainstay of China’s air travel and cargo system.
He also noted that more than half of the commercial jetliners in China are Boeing planes, before going on to confirm that the company’s annual investment in China is between US$800m and US$1bn.
China has a component role for every current Boeing commercial airplane model, according to Boeing.
Boeing and its rival Airbus are fighting to increase their share of the fastest-growing market in the world.