Wed, Sep 21, 2005
Next 20 Years Should Be Watershed For Manufacturers
Boeing Tuesday detailed its 2005
Current Market Outlook (CMO) for the People's Republic of China,
forecasting a requirement in China for just over 2,600 new
airplanes worth $213 billion over the next 20 years. Over the
forecast period, China is and will remain the largest market
outside the United States for new commercial airplanes, the
Chicago-based manufacturer said.
With the continued high rate of growth for the China air travel
and air cargo markets, China's fleet will nearly quadruple to more
than 3,200 airplanes by the end of the forecast period.
Single-aisle aircraft, such as the Boeing 737, will be the largest
category with total new-airplane deliveries at 1,678 airplanes.
Intermediate twin-aisles such as the Boeing 787 and 777s will
comprise approximately 568 airplanes, while regional jets will be
293 units and 747 and larger-size airplanes will be 73 units.
"Passengers are the foundation of air travel, and in a
competitive market the airlines will continue meeting passengers'
demands for more direct nonstop flights to destinations around the
world with longer-range, efficient and comfortable airplanes," said
Boeing Commercial Airplanes Vice President, Marketing, Randy
Baseler. "This requirement will be met by airplanes in the
200-to-400-seat capacity category, with only a few very large ones
being needed."
Boeing projects air travel growth will outpace China's Gross
Domestic Product increase during the forecast period. Air travel
for China's carriers will expand significantly, led by the domestic
market's average annual growth of 8.8 percent. This incredible
growth will nearly quadruple China's airplane fleet over the next
20 years. Air travel for all markets to, from and within China is
forecasted to grow 7.3 percent per year.
"The high demand for single-aisle airplanes will be driven by an
increasing affluence among the Chinese people and an increased
desire to travel within China and to neighboring countries," adds
Baseler. "Continued development of the country's aviation
infrastructure and the opening of new airports throughout the
country will also enable China's rapid domestic air travel
growth."
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