Fri, Sep 09, 2011
Company Says Worldwide Market Is 33,500 Planes Through
Boeing predicts growth in the Chinese airline industry will
create a market for 5,000 new airplanes worth $600 billion in the
next 20 years.
In announcing the forecast on Wednesday, Randy Tinseth, Boeing
Commercial Airplanes VP of Marketing, explained the numbers through
the year 2030. "Sustained strong economic growth, growing trade
activities, increasing personal wealth and income, as well as
continued market liberalization will be the driving forces...We
expect China will be the second largest country taking new
commercial airplane deliveries due to its air travel demand growing
at an annual rate of 7.6 percent on average."
Boeing forecasts that small and intermediate twin-aisles, such
as the Boeing 787 Dreamliner and 777, will account for 1,040 of
those deliveries. Tinseth says major Chinese airlines will take
advantage of their membership in major airline alliances to
gradually shift their focus from domestic to international markets,
and become competitive global players.
As a result of the boost for China's inbound tourism, the
single-aisle market will also remain strong, with total deliveries
expected to reach 3,550. Tinseth said Boeing's new 737 MAX family
will be the most fuel-efficient, most capable airplane with the
lowest operating costs in the single-aisle segment.
Worldwide, Boeing projects investments of $4 trillion for 33,500
new commercial airplanes to be delivered during the next 20
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