Boeing Sees Demand in China for 6,330 Airplanes Valued at Nearly $1 Trillion
1) Chinese fleet will almost triple by 2034, with need for 4,630 single-aisle airplanes
2) Low-cost carriers, international expansion are key drivers of soaring airplane demand
Boeing : Aug. 25, 2015, China’s leading provider of commercial airplanes, today projected a demand in the country for 6,330 new airplanes over the next 20 years. Boeing released its annual China Current Market Outlook (CMO) today in Beijing, estimating the total value of those new airplanes at $950 billion.
“Despite the current volatility in China’s financial market, we see strong growth in the country’s aviation sector over the long term,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “Over the next 20 years, China’s commercial airplane fleet will nearly triple: from 2,570 airplanes in 2014 to 7,210 airplanes in 2034, with more than 70 percent of these deliveries accommodating growth.”
“China’s aviation market is incredibly dynamic, from its leading airlines to its startups and low-cost carriers,” said Ihssane Mounir, vice president of Sales and Marketing for Northeast Asia, Boeing Commercial Airplanes. “Boeing is committed to serve customers in the world’s largest airplane market by providing the most fuel-efficient airplanes and services to support their growth and profitability.”
“Enabled by China’s growing middle-class population, new visa policies and the underlying strength of its economic growth, this expansion is expected to continue, and in fact accelerate,” Tinseth said. “The 777, 787 and 747-8 are perfectly positioned to support Chinese airlines’ continued globalization.”
Today, Boeing jets are the mainstay of China’s air travel and cargo system. More than 50 percent of all the commercial jetliners operating in China are Boeing airplanes. Over 8,000 Boeing airplanes fly throughout the world with integrated China-built parts and assemblies. 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 newest and most innovative airplane, the 787 Dreamliner.
New Airplane Deliveries to China: 2015-2034
Airplane type Seats Total deliveries Dollar value
Regional jets 90 and below 190 $10B
Single-aisle 90-230 4,630 $490B
Small wide-body 200-300 810 $210B
Medium wide-body 300-400 650 $220B
Large wide-body 400 and above 50 $20B
Total ———- – 6,330 $950B
(16.6% of world total) (17% of world total)