China Will Need 7,240 New Planes Over Next 20 Years, Boeing Says

China will need 7,240 new airplanes, worth USD1.1 trillion, over the next twenty years as demand for planes grows 6.3 percent, The Boeing Co. [NYSE:BA] forecast in its latest press briefing.

The country’s fleet will grow much faster than the world average, Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes, told the press in Beijing yesterday. For the next two decades, nearly 20 percent of global demand for new planes will come from Chinese airlines.

Most civilian aircrafts operating in China and Asia are single-aisle planes, and Boeing believes it will need 5,420 of them over the next 20 years, making up 75 percent of the nation’s total demand.

Airlines will order more small- to medium-sized wide-body aircrafts to scale up long-range services and improve business flexibility, the firm added, saying China will need 1,670 of these in the coming 20 years, while demand for new super-large wide-body aircrafts will be concentrated in the freight market.

More than 50 percent of commercial jets already operating in China are Boeing-made, the company said. However, China has been involved in the production of all Boeing commercial planes, and China-made parts and components have been installed on more than 9,000 of the company’s planes currently in operation.

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