BEIJING, Aug. 25, 2015 /PRNewswire/ -- Boeing (NYSE:
BA), China's leading provider of
commercial airplanes, today projected a demand in the country for
6,330 new airplanes over the next 20 years. Boeing released its
annual China Current Market Outlook (CMO) today in Beijing, estimating the total value of those
new airplanes at $950 billion.
"Despite the current volatility in China's financial market, we see strong growth
in the country's aviation sector over the long term," said
Randy Tinseth, vice president of
Marketing, Boeing Commercial Airplanes. "Over the next 20 years,
China's commercial airplane fleet
will nearly triple: from 2,570 airplanes in 2014 to 7,210 airplanes
in 2034, with more than 70 percent of these deliveries
accommodating growth."
"China's aviation market is
incredibly dynamic, from its leading airlines to its startups and
low-cost carriers," said Ihssane
Mounir, vice president of Sales and Marketing for
Northeast Asia, Boeing Commercial
Airplanes. "Boeing is committed to serve customers in the world's
largest airplane market by providing the most fuel-efficient
airplanes and services to support their growth and
profitability."
As China becomes the world's
largest domestic air travel market, Boeing is forecasting demand
for 4,630 single-aisle airplanes through 2034. This sector is
driven by growth in new carriers and low-cost airlines in
developing and emerging markets, as well as continuous expansion in
established airlines. In fact, the efficiency and flexibility of
single-aisle aircraft like the 737 helps Chinese carriers connect
and stimulate growth along the Economic Belt as part of the One
Belt, One Road Strategy. Tinseth said the Next-Generation
737-800 and new 737 MAX 8 – Boeing products at the heart of the
single-aisle market - offer airlines the best fuel efficiency,
reliability and capability.
China's low-cost carriers are
currently responsible for about 8 percent of single-aisle market
demand, rising to 25-30 percent of demand by 2034, Tinseth noted.
"The 737 MAX 200 will have the lowest fuel costs – 20 percent per
seat – versus today's most efficient single-aisle airplanes,"
Tinseth said. "737 MAX fuel efficiency and the 737's position as
the industry's most reliable airplane offer Chinese low-cost
carriers competitive advantages as they grow new business."
Boeing forecasts that the widebody segment will require 1,510
new airplanes, led by small and medium widebody airplanes such as
the 777-300ER (Extended Range), 777X and the 787 Dreamliner.
Tinseth stressed that Chinese airlines have more than doubled their
long-haul international capacity over the past three years, in
large part following the delivery of 747-8 Intercontinental
airplanes to Air China and 777-300ERs and 787s to several leading
Chinese carriers.
"Enabled by China's growing
middle-class population, new visa policies and the underlying
strength of its economic growth, this expansion is expected to
continue, and in fact accelerate," Tinseth said. "The 777, 787 and
747-8 are perfectly positioned to support Chinese airlines'
continued globalization."
New Airplane
Deliveries to China: 2015-2034
|
|
Airplane
type
|
Seats
|
Total
deliveries
|
Dollar
value
|
Regional
jets
|
90 and
below
|
190
|
$10B
|
Single-aisle
|
90-230
|
4,630
|
$490B
|
Small
wide-body
|
200-300
|
810
|
$210B
|
Medium
wide-body
|
300-400
|
650
|
$220B
|
Large
wide-body
|
400 and
above
|
50
|
$20B
|
Total
|
-----------
|
6,330
(16.6% of world
total)
|
$950
(17% of world
total)
|
Worldwide, Boeing projects investments of $5.6 trillion for 38,050 new commercial airplanes
to be delivered during the next 20 years. The complete
global forecast is available at www.boeing.com/cmo.
Today, Boeing jets are the mainstay of China's air travel and cargo system. More than
50 percent of all the commercial jetliners operating in
China are Boeing airplanes. Over
8,000 Boeing airplanes fly throughout the world with integrated
China-built parts and assemblies.
China has a component role on
every current Boeing commercial airplane model – the
Next-Generation 737, 747, 767, 777, as well as the world's newest
and most innovative airplane, the 787 Dreamliner.
For more information on the China forecast, visit:
http://www.boeing.com/commercial/market/long-term-market/world-regions/#/asia
Contact:
Yukui Wang
Boeing China Communications
+86 10 5925 5588
yukui.wang@boeing.com
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SOURCE Boeing