Boeing Forecasts a Surge in China's Domestic Air Travel with a Demand for 8,560 New Airplanes by 2042
Boeing, the world-renowned aerospace company, has projected a significant increase in the demand for new commercial airplanes in China over the next two decades. According to the company's Commercial Market Outlook (CMO) report, China will require 8,560 new commercial aircraft by 2042, a demand spurred by the nation's economic growth, notably higher than the global average, and a rising appetite for domestic air travel.
China's Domestic Aviation Market: A Future Global Leader
The CMO report highlights that China's commercial airliner fleet is set to more than double, reaching nearly 9,600 jets within the next 20 years. This growth is attributed to the ongoing recovery of air travel, with China accounting for one-fifth of the world's airplane deliveries in the forthcoming decades. Moreover, the nation's domestic aviation market is poised to become the largest globally by the end of the forecast period, predominantly fueling the demand for 6,470 single-aisle airplanes, including the Boeing 737 MAX family.
Boeing's Vice President of Commercial Marketing, Darren, emphasized that "domestic air traffic in China has already surpassed pre-pandemic levels, and international traffic is recovering steadily." He further noted that Boeing's comprehensive range of commercial jets would play a pivotal role in meeting this growth sustainably and economically.
Key Projections for 2042
The 2023 China CMO report delineates several projections through 2042, including:
- A necessity for 1,550 widebody airplanes, mainly to facilitate a burgeoning network of international routes.
- Two-thirds of forecast deliveries in China will be driven by fleet growth, while the remaining will replace older jets with modern, efficient airplanes that reduce CO2 emissions.
- The e-commerce and express shipping sectors will necessitate 190 new freighter deliveries.
- The burgeoning market will demand 433,000 new aviation personnel, comprising 134,000 pilots, 138,000 technicians, and 161,000 cabin crew members.
- The commercial fleet in China will generate a demand for aviation services worth $675 billion, encompassing maintenance, repair, training, and spare parts.
Boeing in China: Celebrating 50 Years
2023 marks the golden jubilee of Boeing airplanes' service in China. The journey commenced in 1972 with China ordering 10 707 jets to modernize its commercial fleet. The following year witnessed the country's first 707 delivery to the Civil Aviation Administration of China (CAAC). Boeing airplanes remain a cornerstone of China's air travel and cargo system.
For a detailed insight into the Boeing CMO forecast, visit Boeing Commercial Market Outlook.
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