Boeing Co. expects airlines operating in China to order slightly more than 6,000 new jets over the next 20 years, an 8 percent increase from a year ago. The company values the demand at $870 billion.
The Chicago-based aerospace company anticipates a surge of start-up airlines and low-cost carriers in China to spur demand for new airplanes. In its annual market outlook released Thursday, Boeing says China will account for 16 percent of world demand for new jets and about half of the demand in the Asia Pacific region over the next two decades.
“China’s aviation market is going through dynamic changes,” said Randy Tinseth, Boeing Commercial Airplanes vice president of marketing. “New business models like low-cost carriers and airplane leasing companies, a new generation of fuel-efficient airplanes and evolving consumer needs are driving demand for more direct flights to more destinations.”
Boeing forecasts about two-thirds of new jets ordered for the China market will be single-aisle airplanes such as the company’s 737 line.
Worldwide, Boeing anticipates demand for 36,770 new commercial airplanes, up 5 percent from last year’s forecast, to be delivered during the next 20 years. The demand for new planes was valued at $5.2 trillion.
The company says more than 50 percent of commercial jets operating in China are Boeing planes.