China’s aviation market will require an additional 6,330 new jets over the next 20 years, a report by US manufacturer Boeing says.
Chinese airlines will collectively spend about $950 billion to update and increase fleets between now and 2034, said Boeing’s annual China Current Market Outlook report.
"We see strong growth in the country’s aviation sector over the long term," said Randy Tinseth, vice president of marketing at Boeing, adding that the growth will be ‘more sustainable.’
Collectively China will have more than 7,000 planes by 2034, almost three times its current size.
Domestic growth will drive most of the demand, Boeing says, with about 4,630 single-aisle planes needed.
Tinseth said Boeing delivered 155 planes to Chinese airlines last year, which is 21 % of global shipments.
Boeing said it confirmed orders for 400 more aircraft in China last year and forecasts 2015 will be ‘a great year,’ Tinseth said.
