Boeing, China's leading provider of passenger aircraft, forecasts that China will require 4,330 new commercial jets valued at $480 billion over the next 20 years, with the bulk of new deliveries expected to be for fuel-efficient, single-aisle airliners.
Over the forecast period, China will triple in aircraft fleet size, making it the largest market outside of the US.
“China is one of the world's fastest growing and dynamic aviation markets, driven by the urbanisation of China, the growth of its economy and ever-increasing personal wealth,” said Randy Tinseth, vice president of marketing, Boeing Commercial Airplanes, who released Boeing's 2010 China market outlook today in Beijing. “We expect domestic passenger traffic for China to grow at a rate of 7.9% on average.”
Boeing forecasts that 71% of China's demand will be for single-aisle aircraft, with total deliveries reaching 3,090.
Tinseth also underscored the long-standing partnership between Boeing and Chinese partners: “Boeing's equity investment in China is considerable, and the aviation goods and services we buy from China are significantly greater than other aviation companies. In the coming years, Boeing purchases are expected to exceed $3 billion.”
Tinseth noted that there are more than 5,700 Boeing aircraft flying throughout the world with parts and assemblies built by China. China has a role on all of the Boeing commercial models – 737, 747, 767, 777, and the newest and most innovative airplane, the Boeing 787 Dreamliner.
Worldwide, Boeing projects investments of $3.6 trillion for 30,900 new commercial aircraft to be delivered during the next 20 years.
www.boeing.com
