The demand for commercial aircraft in China will reach 7,240 airplanes valued at approximately $1.1 trillion by 2036, according to Boeing’s annual China Current Market Outlook.
This year’s outlook forecasts demand 6.3 percent higher than 2016’s estimate.
“China’s continuous economic growth, significant investment in infrastructure, growing middle-class and evolving airline business models support this long-term outlook,” Randy Tinseth, vice president of marketing, said. “China’s fleet size is expected to grow at a pace well above the world average, and almost 20 percent of global new airplane demand will be from airlines based in China.”
China’s outbound travel market is approximately 200 million passengers annually, Tinseth said.
More than half of the commercial aircraft operating in China were manufactured by Boeing.
The company estimates China will need 5,420 single-aisle airplanes, accounting for 75 percent of Boeing’s global deliveries, over the next 20 years. Single-aisle airplanes are used by both full-service airlines and low-cost carriers to expand point-to-point services throughout Asia.
The 737 MAX 8 is the most popular single-aisle model.
Also over the next two decades, Boeing estimates China will need 1,670 wide-body airplanes. The 787 and 777X are key to this growth, Tinseth said.
Single-aisle aircraft seat between 90 and 230 passengers while wide-body aircraft seat more than 300 people.