Boeing raises growth expectations for China’s aviation market over next 20 years
US giant says Chinese airlines will spend nearly US$1.1tn to buy 7,240 new aeroplanes by 2037, a 6pc increase on its prediction a year ago
Boeing, the US aviation giant, is expecting Chinese airlines to spend nearly US$1.1 trillion on 7,240 new jetliners over the next 20 years.
According to Randy Tinseth, vice-president of marketing for Boeing Commercial Airplanes, that total potential demand in China for new aircraft has risen 6.3 per cent on last year’s forecast.
“We are a bit more optimistic now in terms of economic growth compared to last year,” said Tinseth, adding that a pick up in the cargo market and stronger-than-expected growth in airline expansion have been the main drivers for the revised forecast.
“China’s continuous economic growth, significant investment in infrastructure, a growing middle class and evolving airline business models support this improved long-term outlook,” he said during a visit to Beijing.
Boeing also expects single-aisle aircraft to become the most popular choices for China’s domestic and regional fleets. Three quarters of its new deliveries are going to be new single-aisle models, he said.