China needs 6,810 new jets in next two decades, worth $1 trillion
China will need 6,810 new aircraft over the next 20 years, which are estimated to be valued more than USD 1 trillion, according to Boeing's projection.
Boeing forecasts that for the next 20 years China will needs 6,810 new aircraft valued at USD 1.025 trillion, higher than the plane maker's estimation in 2015, which were 6,330 new planes worth USD 950 billion.
The company lifted its estimation, anticipating a rising middle class to boost leisure and business travel and make China the first trillion-dollar aviation market, Boeing said in a statement Tuesday.
About 71% of the new aircraft demand in China will be for growth, the planemaker said. Including a retained fleet of 910 planes, China will have 7,720 aircraft by 2035.
Passenger traffic will expand 6.4% annually in China over the next 20 years, Boeing said. The depreciation of the yuan has improved profitability of Chinese airlines and hasn’t damped orders at Boeing.
Last year Boeing announced a plan to build an aircraft-completion center in China, after it delivered a record number of planes to China in 2015.
The planemaker said it expects 39,620 new aircraft valued at USD 5.9 trillion to be delivered worldwide in the next 20 years.
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