Boeing projects demand in China for 6020 new aircraft over the next 20 years

Boeing projected (04-Dec-2014) demand in China for 6020 new aircraft over the next 20 years, valued at USD870 billion. Boeing's annual China Current Market Outlook (CMO) shows Chinese carriers will take delivery of nearly 45% of the total demand for aircraft in the Asia Pacific region during the forecast period. Boeing Commercial Airplanes VP marketing Randy Tinseth commented, "China's aviation market is going through dynamic changes. 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." The new CMO also shows how the emergence of start-up airlines and LCCs stimulates traffic and allow more people to fly. Tourism in China and intra-Asia travel support a strong demand for single-aisle airplanes, with total deliveries reaching 4340 through 2033. Mr Tinseth said both the 737-800 and new 737 MAX 8 offer the airline customers the most revenue potential in this segment. Boeing also noted that Chinese airlines with large global networks continue to look for opportunities to expand as international flying increases from secondary cities apart from Beijing, Shanghai and Guangzhou. This growth in the long-haul segment is expected to result in demand for an additional 1480 new widebodies, such as the 777, 787 and 747-8 Intercontinental. The forecast reflects a continued shift in demand from very large airplanes to efficient new small and medium widebody airplanes. Mr Tinseth added: "To compete in the tough long-haul international market, our Chinese customers are focused on evolving new business models, adding new destinations, increasing their capacity and resources... These trends will shape market demand for an airplane lineup that has high efficiency, low operating costs, environmentally progressive technologies and a great passenger experience. We believe Boeing's comprehensive widebody portfolio is perfectly aligned to meet those needs." Details of new aircraft deliveries in China from 2014 to 2033 is as follows:

• Regional jet (90 seats and below): 200 deliveries for total value of USD10 billion;
• Single-aisle (90 to 230 seats): 4340 deliveries for value of USD430 billion;
• Small wide-body (200-300 seats): 780 for value of USD200 billion;
• Medium widebody (300 to 400 seats): 640 for value of USD210 billion;
• Large widebody (400 and above): 60 for value of USD20 billion;
• Total: 6020 (16.4% of world total) for value of USD870 billion (16.7% of world total).

Boeing noted that more than 50% of commercial aircraft operating in China are Boeing aircraft. [more - original PR]