Boeing officials forecast for commercial passenger airplane demand in China

Posted by Courtney E. HowardBEIJING, 9 Sept. 2011. Officials at The Boeing (NYSE:BA) Company presented an outlook on China's commercial airplane market through 2030 predict that China will require 5,000 new commercial passenger airplanes, with an estimated value of $600 billion, over the next two decades. They further forecast that small and intermediate twin-aisles, such as the Boeing 787 Dreamliner and 777, will constitute more than 40 percent of the market in value and 1,040 deliveries. "Sustained strong economic growth, growing trade activities, increasing personal wealth and income, as well as continued market liberalization will be the driving forces in shaping China's air travel market," notes Randy Tinseth, Boeing Commercial Airplanes vice president of marketing. "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," Tinseth adds. “Major Chinese airlines will gradually shift their focus from domestic to international markets to become competitive global players.”Worldwide, Boeing officials project investments of $4 trillion for 33,500 new commercial airplanes to be delivered during the next 20 years. Boeing’s complete forecast is available at www.boeing.com/commercial/cmo/index.html.