China, a $340 billion market for new airplanes
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
As china continues to lead all domestic air travel markets with a long-term growth rate of 8.8%, plus the anticipated surge in passenger traffic for the 2008 Beijing Olympic Games, the country’s domestic market is projected to increase five-fold by 2026 to become slightly larger than the US market.
The air cargo market boost will also require China to quadruple their fleet to 4,460 by the end of the forecast period - 2026, Boeing’s annual report revealed.
Air traffic between China and US as well as between China and Europe is also expected to double in size in the next 20 years, and the number of city pairs will more than triple.
“China domestic frequencies have increased more than sixteen-fold since 1990 while airplane sizes have remained about the same,” said Randy Tinseth, Boeing Commercial Airplanes Vice President, Marketing.
“The Chinese domestic market’s projected average growth is almost 9%.
Boeing believes the current trend of more frequencies and nonstop flights will continue to accommodate this growth through a focus on single-aisle airplanes.”
Worldwide, Boeing projects investments of US$2.8 trillion for 28,600 new commercial airplanes to be delivered during the next 20 years.
Comments are closed.