Boeing projects a demand for 7,240 new airplanes in China over the next 20 years with a total value of nearly $1.1 trillion dollars, according to its annual China Current Market Outlook (CMO). Airplane demand had also rose 6.3% over last year’s forecast. On a global scale, Boeing projects the need for 41,030 new commercial airplanes over the next 20 years, that is valued at $6.1 trillion dollars.

“China’s continuous economic growth, significant investment in infrastructure, growing middle-class and evolving airline business models support this long-term outlook,” said Randy Tinseth, vice president of Marketing, Boeing Commercial Airplanes. “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.”

Single-aisle airplanes continue to be the foundation of domestic and regional fleets in China. Boeing sees the need for 5,420 new single-aisle airplanes through 2036, accounting for 75% of the total new deliveries. Full-service airlines and low-cost carriers have been adding new single-aisle airplanes and expanding new point-to-point services to cater for both leisure and business travel demand in China and throughout Asia.

Tinseth said the backlog from Chinese customers demonstrates that the new 737 MAX 8 remains at the heart of the single-aisle market.

Boeing forecasts the wide body fleet over the next 20 years will require 1,670 new airplanes. Airlines continue to shift to small and medium wide body airplanes for long-haul expansion and flexibility. Primary demand for very large wide bodies going forward will be in the freighter market.  

“China’s outbound travel market continues its rapid growth toward 200 million passengers annually,” said Tinseth. “With new technologies, superior capabilities and advanced efficiency, the 787 and 777X families will play a key role in supporting the growth of China’s long-haul market.”