Boeing Forecasts Chinese Demand At USD$1 Trillion

Boeing has released its annual China current market outlook, projecting demand for 6,810 new commercial aircraft over the next 20 years.

The aerospace giant estimated total value of the planes at USD$1.025 trillion.

Boeing predicts single-aisle demand of 5,110 new aircraft over the next 20 years, or three-quarters of total deliveries.

Low-cost carriers have been adding new point-to-point services to cater for both leisure and business travel demand from a rising middle class in China and throughout Asia, Boeing said.

Boeing forecasts the wide-body fleet will triple in size, adding 1,560 new aircraft over the period. The forecast continues the shift from very large aircraft to small and medium wide-body planes.

"The continuing expansion of China's middle class, coupled with new visa policies and a wide range of wide-body airplanes… gives us every reason to expect a very bright future for China's long-haul market," Boeing’s Marketing VP Randy Tinseth said.

Boeing forecasts the need for 180 new freighters and 410 converted aircraft, driven by China's growing e-commerce business.