Boeing highlights China's booming airplane demand

BEIJING: The American multinational Boeing has projected an upbeat picture about growth of China's aviation market saying the world's second largest economy will need 5,580 new airplanes in the next 20 years at an estimated USD 780 billion.

The planes will be valued at USD 780 billion, according to the company's annual China Current Market Outlook.

"Thanks to strong economic growth and increased access to air travel, we project China traffic to grow at nearly 7 per cent each year," state-run Xinhua news agency quoted Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes.

Tourism in China and intra-Asia travel will help spur strong demand for single-aisle airplanes, with total deliveries in that segment reaching 3,900 through 2032, according to Boeing's forecast.

Growth in long-haul international traffic is expected to result in demand for an additional 1,440 new fuel-efficient widebodies, it added.