Boeing forecasts that China will need 8,090 new commercial aircraft over the next 20 years in addition to $1.6 billion in services related to passenger air transport.
Its 2019 China Commercial Market Outlook for the next two decades sees the entire aircraft and services market through 2038 reaching $2.9 trillion, a 7% increase over its forecast last year.
“China is one of the world’s most dynamic and fastest growing markets,” says Randy Tinseth, Boeing’s vice-president of commercial marketing.
“An expanding middle class, significant investment in infrastructure, and advanced technologies that make airplanes more capable and efficient, continue to drive tremendous demand for air travel.”
Boeing expects single-aisle aircraft to account for 5,960, or 74%, of new deliveries. It also expects requirement for 1,780 new widebodies, which will triple the existing fleet.
E-commerce and express delivery will benefit air cargo growth, with 230 new freighters and 500 converted freighters to be required over the next 20 years.
Of the $1.6 billion market in services, Boeing forecasts that ground and cargo services will account for $935 billion, maintenance and engineering $390 billion, flight operations $200 billion. Another $90 billion will be for marketing, customer service and corporate services.
It also forecasts that there will be 120 regional jets delivered through 2038.