Boeing Projects China Would Need 8,700 New Airplanes by 2040
September 23 2021 - 2:34AM
Dow Jones News
By Clarence Leong
Boeing Co. has raised its 20-year forecast for the Chinese
airline market, projecting that the country would need 8,700 new
airplanes valued at $1.47 trillion by 2040, to meet rising
air-travel demand.
That compares with Boeing's previous forecast of 8,600
planes.
Noting that the Chinese market has shown resilience during the
pandemic, the airplane manufacturer in its annual commercial market
outlook Thursday said that market opportunity for commercial
aviation services in the region was worth nearly $1.8 trillion.
"The rapid recovery of Chinese domestic traffic during the
pandemic speaks to the market's underlying strength and
resilience," said Richard Wynne, managing director of China
marketing at Boeing Commercial Airplanes.
"In addition, there are promising opportunities to significantly
expand international long-haul routes and air freight capacity," he
said.
China's economic fundamentals and a middle-income demographic
that is expected to double in two decades, were factors underlying
the increase in air travel, Boeing said in its outlook.
The company also expects China's domestic traffic to exceed air
travel within North America by 2040.
Write to Clarence Leong at clarence.leong@wsj.com
(END) Dow Jones Newswires
September 23, 2021 02:19 ET (06:19 GMT)
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