20-year market outlook projects demand at $870 billion
Boeing says it is “China’s leading provider of passenger airplanes”, and it projects a demand in the country for 6,020 new aircraft over the next 20 years, valued at $870 billion.
In its annual China Current Market Outlook, Chinese carriers will take delivery of nearly 45% of the total demand for airplanes in the Asia Pacific region during the forecast period.
“China’s aviation market is going through dynamic changes,” said Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes. “New business models like low-cost carriers and airplane leasing companies, a new generation of fuel-efficient airplanes and evolving consumer needs are driving demand for more direct flights to more destinations.”
Planes such as the 737 MAX, 777X and 787 Dreamliner are “well positioned to take passengers directly to their destinations and help airlines generate more revenue,” Boeing said.
The new report also shows how the emergence of start-up airlines and low-cost carriers stimulates traffic and allows more people to fly. Tourism in China and intra-Asian travel support a strong demand for single-aisle airplanes, with total deliveries reaching 4340 by 2033. Tinseth said that both the Next-Generation 737-800 and the new 737 MAX 8 “offer airline customers the most revenue potential in this segment”.
[pictured: Next-Gen 737; photo courtesy Boeing]