Boeing raises forecast for airplane demand in China
Boeing publishes its forecast for airplane demand in China, where the 20 year outlook projects a demand of 7,240 airplanes in the country and a 6.3% increase over 2016’s forecast.
September 7, 2017
Boeing projects a demand for 7,240 new airplanes in China over the next 20 years with a total value of nearly $1.1 trillion dollars, according to its annual China Current Market Outlook (CMO). Airplane demand had also rose 6.3% over last year’s forecast. On a global scale, Boeing projects the need for 41,030 new commercial airplanes over the next 20 years, that is valued at $6.1 trillion dollars.
“China’s continuous economic growth, significant investment in infrastructure, growing middle-class and evolving airline business models support this long-term outlook,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “China’s fleet size is expected to grow at a pace well above the world average, and almost 20 percent of global new airplane demand will be from airlines based in China.”
Single-aisle airplanes continue to be the foundation of domestic and regional fleets in China. Boeing sees the need for 5,420 new single-aisle airplanes through 2036, accounting for 75% of the total new deliveries. Full-service airlines and low-cost carriers have been adding new single-aisle airplanes and expanding new point-to-point services to cater for both leisure and business travel demand in China and throughout Asia.
Tinseth said the backlog from Chinese customers demonstrates that the new 737 MAX 8 remains at the heart of the single-aisle market.