Boeing: China needs 6,330 airplanes worth $1 trillionStaff writer ▼ | August 26, 2015
Boeing projected a demand in the country for 6,330 new airplanes over the next 20 years. Its annual China Current Market Outlook (CMO estimates the total value of those new airplanes at $950 billion.
Airlines China Current Market Outlook by Boeing
"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."
As China becomes 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.
In fact, the efficiency and flexibility of single-aisle aircraft like the 737 helps Chinese carriers connect and stimulate growth along the Economic Belt as part of the One Belt, One Road Strategy.
Tinseth said the Next-Generation 737-800 and new 737 MAX 8 – Boeing products at the heart of the single-aisle market - offer airlines the best fuel efficiency, reliability and capability.
China's low-cost carriers are currently responsible for about 8 percent of single-aisle market demand, rising to 25-30 percent of demand by 2034, Tinseth noted. ■