Boeing revises China forecast upwards
The latest edition of Boeing's annual China Current Market Outlook projects demand for 7,240 new aircraft over the next 20 years, valued at $1.1trn.
Boeing's annual China Current Market Outlook (CMO) was released on 6th September in Beijing, with total airplane demand rising 6.3% over last year's forecast. Boeing projects a demand for 7,240 new airplanes in China over the next 20 years, valued at nearly $1.1trn.
Boeing sees the need for 5,420 new single-aisle aircraft through 2036, accounting for 75% of 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.
Boeing forecasts the widebody fleet over the next 20 years will require 1,670 new aircraft. Boeing predicts that primary demand for very large widebodies going forward will be in the freighter market.
Boeing projections for new aircraft deliveries in China by type:
- Regional jets (90 seats or less); 150 ($10bn);
- Single-aisle (90-230 seats); 5,420 ($570bn);
- Small widebody (200-300 seats); 940 ($260bn);
- Medium/large widebody (300 seats or more); 550 ($190bn);
- Freighter widebody; 180 ($60bn).
Worldwide, Boeing projects the need for 41,030 new commercial aircraft over the next 20 years, valued at $6.1trn.