Boeing, the American aircraft manufactuer, has projected a worldwide need for 41,030 new commercial airplanes over the next 20 years, valued at $6.1tn.
Boeing’s annual China Current Market Outlook (CMO) was released on September 6 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 alone over the next 20 years, valued at nearly $1.1tn.
Randy Tinseth, vice president of marketing, Boeing commercial airplanes, said: “China’s continuous economic growth, significant investment in infrastructure, growing middle-class, and evolving airline business models support this long-term outlook. China’s fleet size is expected to grow at a pace well above the world average, and almost 20% 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.
Boeing forecasts the widebody fleet over the next 20 years will require 1,670 new airplanes. Airlines continue to shift to small and medium widebody airplanes for long-haul expansion and flexibility. Primary demand for very large widebodies going forward will be in the freighter market.
Tinseth added: “China’s outbound travel market continues its rapid growth toward 200 million passengers annually. With new technologies, superior capabilities and advanced efficiency, the 787 and 777X families will play a key role in supporting the growth of China’s long-haul market.”
Today, Boeing jets are the mainstay of China’s air travel and cargo system. More than 50% of all the commercial jetliners operating in China are Boeing airplanes.
Meanwhile, China has a component role on every current Boeing commercial airplane model the next-generation 737, 747, 767, 777, as well as the world’s most technologically advanced airplane, the 787 Dreamliner. Over 9,000 Boeing airplanes fly throughout the world with integrated China-built parts and assemblies