Boeing is projecting a demand for 6,810 new airliners in China over the next 20 years. The company released its annual China Current Market Outlook (CMO) in Beijing on 13th September, estimating the total value of those new aircraft at $1.025 trillion. China becomes the first trillion-dollar aviation market in Boeing's forecast.
Boeing predicts China will need 5,110 new single-aisle aircraft through 2035, accounting for 75% of the total new deliveries. The U.S. firm underlines that low-cost carriers and full-service airlines have been adding airplanes and expanding new point-to-point services to cater for both leisure and business travel demand from a rising middle class in China and throughout Asia.
Boeing forecasts the widebody fleet will triple in size, requiring 1,560 new airplanes. This year's forecast reflects a continued shift from very large airplanes to efficient new small and medium widebody airplanes.
China's single-aisle fleet currently accounts for about 18% of global single-aisle aircraft; however, China's widebody fleet only represents approximately 5% of the global widebody segment.
Driven by China's growing e-commerce business – already the largest in the world – air cargo is expected to become a key driver for the continuous growth of aviation in China, with the need for 180 new freighters and 410 converted freighters.
Worldwide, Boeing projects investments of $5.9 trillion for 39,620 new commercial airplanes to be delivered during the next 20 years.