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Boeing predicts 6,000 new aircraft needed for China market

09/19/2014| 8:02:33 PM|

China's surging aviation market will fuel a demand for over 6,000 new aircraft over the next two decades, says Boeing.

Releasing its annual China Current Market Outlook, the aircraft maker predicts Chinese airlines will order almost 45% of all airplanes in the Asia Pacific region.

The report forecasts 6,020 new planes will be needed over the next 20 years, valued at $870 billion.

"China's aviation market is going through dynamic changes," said Boeing Commercial vice president of marketing Randy Tinseth.

"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."

Tourism trends in China and for intra-Asia travel supports the need for more than 4,000 single-aisle airplanes through 2033.

Long-haul carriers are expected to order an additional 1,480 new fuel-efficient wide body planes, such as the 777, 787 Dreamliner and 747-8 Intercontinental, the report states.

"To compete in the tough long-haul market, our Chinese customers are focused on evolving new business models, adding new destinations, and increasing their capacity and resources," Tinseth said.

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