What's behind Boeing's 15% upgrade to China's aircraft demand forecast? 5000 new aircraft by 2030

Boeing has raised its 20-year forecast for commercial aircraft demand in China by an impressive 15% from last year's outlook amid continuing strong economic and air travel growth. According to Boeing's annually updated forecast for China, released in early Sep-2011, Chinese airlines will require 5000 new commercial aircraft valued at USD600 billion over the next 20 years through 2030. The forecast, which will see a more than tripling of the Chinese fleet size by 2030, underscores China's lynchpin status for the world's manufacturers, their suppliers and airports.

In Nov-2010, Boeing forecast that China would require 4330 new aircraft valued at USD480 billion by 2029. In addition to the 15% increase in aircraft demand from the last forecast, the latest outlook marks a 25% increase in the value of Chinese aircraft orders over the next 20 years.