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Fri, Sep 09, 2011

Boeing: China Needs 5,000 Airplanes

Company Says Worldwide Market Is 33,500 Planes Through 2030

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 years.



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