Boeing projected (05-Sep-2013) a demand for 5580 new aircraft in China over the next 20 years valued at USD780 billion. The company's annual China Current Market Outlook forecasts the country's fleet to triple in size over the next two decades. Boeing Commercial Airplanes VP marketing Randy Tinseth said, "Thanks to strong economic growth and increased access to air travel, we project China traffic to grow at nearly 7 percent each year. China is a key market for Boeing. Our current and future products will allow our customers to meet the growing demand with the most efficient airplanes." Boeing also forecast that tourism in China and intra-Asia travel will help spur a strong demand for single-aisle aircraft, with total deliveries in that segment reaching 3900 through 2032. Boeing also forecast that long-haul international traffic to and from China is forecast to grow at an annual rate of 7.2%, noting: "The international growth is primarily driven by anticipated passenger traffic between China and North America, Europe, the Middle East, Oceania and Africa". Boeing said it expects growth in the long-haul segment is expected to result in demand for an additional 1440 new widebodies, such as the 787, 777 and 747-8I. Boeing also provided the following forecast for the 2013-2032 period by aircraft type:
- Regional jets (90 seats) and below: 240 deliveries valued at USD10 billion;
- Single-aisle (90-230 seats): 3,00 deliveries valued at USD370 billion;
- Small widebody (200-300 seats): 730 deliveries valued at USD170 billion;
- Medium widebody (300-400 seats): 610 deliveries valued at USD200 billion;
- Large widebody (400 and above): 100 deliveries valued at USD30 billion;
- Total: 5580 (16% of world total) valued at USD780 billion (16% of world total). [more - original PR]
Boeing: "To compete in the long-haul international market, our Chinese customers are focused on growing their international networks, increasing their capacity and building resources. These trends will shape market demand for airplanes that have high efficiency, low operating costs, environmentally progressive technologies and a great passenger experience. We believe Boeing's current and future widebody families are perfectly aligned to meet those needs," Commercial Airplanes VP marketing, Randy Tinseth. Source: Company statement, 05-Sep-2013.