China needs 5,300 new aircraft – Airbus
Chinese airlines will need more than 5,300 new passenger planes over the next 20 years, Airbus has predicted.
With China set to become the world’s largest domestic aviation market within the next decade, Airbus, which has a factory in Tianjin, has forecast that between 2014 and 2033, Chinese carriers will purchase 5,363 new aircraft with a total market value of US$820 billion. This represents 17% of the total global forecast for 31,000 new aircraft.
According to Airbus’ Global Market Forecast, new deliveries to China will comprise 3,567 single-aisle aircraft, such as the A320 or Boeing 737, 1,477 twin-aisle jets like the A330, A350, B777 and B787, and 319 very large aircraft like the A380.
This demand will be driven by the growth domestic of air travel in China. The country is expected to overtake the US as the world’s number one domestic aviation market, in terms of passenger numbers, by 2023. And by 2033, the domestic Chinese market will represent almost 12% of global air traffic.
“Domestic passenger traffic in mainland China has more than quadrupled over the last 10 years, and it will become the world’s number one aviation market within the next 10 years,” said John Leahy, Airbus’ chief operating officer. “Airbus’ share of the in-service fleet of aircraft over 100 seats on the Chinese mainland has reached 50% in 2013. In the next 20 years, the greatest demand for passenger aircraft will come from China.”
In terms of international traffic, demand for routes to and from mainland China is expected to grow at an annual rate of 8.1% over the next decade.