Boeing sees China buying 3,710 planes over next 20 years
US aerospace giant Boeing said on Wednesday it sees the booming China aviation market producing orders for 3,710 new commercial aircraft over the next 20 years.
By Agencies |
NEW YORK: US aerospace giant Boeing said on Wednesday it sees the booming China aviation market producing orders for 3,710 new commercial aircraft over the next 20 years.
Chinese demand for passenger and cargo planes will be worth about 390 billion dollars, Boeing said in its 2008 Current Market Outlook report.
Worldwide, Boeing predicted demand for 29,400 new planes by 2027, for a total price tag of 3.2 trillion dollars.
"China will continue to be the fastest-growing aviation center in the world, requiring 41 percent of the entire Asia-Pacific region airplane demand. This makes China the largest market outside of the US for new commercial airplanes," said Randy Tinseth, Boeing Commercial Airplanes vice president of marketing.
Boeing predicted that growth in China's air travel and air cargo market would lead to growth that more than triples to 4,560 airplanes by 2027.
The company noted that the market would be roughly equivalent to the number of airplanes currently in Europe.
Single-aisle airplanes will lead the demand -- accounting for 70 percent of the new purchases, or 2,600 planes -- as the country adjusts to its fast-growing domestic market, the US company said.
Demand for intermediate twin-aisle planes would yield about 780 airplane orders.
The combined single-aisle and twin-aisle market would represent 91 percent of the 390-billion-dollar market, Boeing said, referring to its single-aisle Next-Generation 737 and its twin-aisles, the new 787 Dreamliner and the 777.
The demand for larger aircraft to connect to China with other major world destinations will be limited to about 100 planes, Boeing said, cited its 747 plane "and larger."
European arch-rival Airbus has banked its strategy on the super-jumbo A380, the world's largest commercial aircraft, first delivered in October 2007 to Singapore Airlines.
Boeing noted that China's cargo markets lead the global industry and forecast that Chinese air carriers would add about 370 freighter airplanes by 2027, quadrupling its total freighter fleet size.
Chinese demand for passenger and cargo planes will be worth about 390 billion dollars, Boeing said in its 2008 Current Market Outlook report.
Worldwide, Boeing predicted demand for 29,400 new planes by 2027, for a total price tag of 3.2 trillion dollars.
"China will continue to be the fastest-growing aviation center in the world, requiring 41 percent of the entire Asia-Pacific region airplane demand. This makes China the largest market outside of the US for new commercial airplanes," said Randy Tinseth, Boeing Commercial Airplanes vice president of marketing.
Boeing predicted that growth in China's air travel and air cargo market would lead to growth that more than triples to 4,560 airplanes by 2027.
The company noted that the market would be roughly equivalent to the number of airplanes currently in Europe.
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Single-aisle airplanes will lead the demand -- accounting for 70 percent of the new purchases, or 2,600 planes -- as the country adjusts to its fast-growing domestic market, the US company said.
Demand for intermediate twin-aisle planes would yield about 780 airplane orders.
The combined single-aisle and twin-aisle market would represent 91 percent of the 390-billion-dollar market, Boeing said, referring to its single-aisle Next-Generation 737 and its twin-aisles, the new 787 Dreamliner and the 777.
The demand for larger aircraft to connect to China with other major world destinations will be limited to about 100 planes, Boeing said, cited its 747 plane "and larger."
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European arch-rival Airbus has banked its strategy on the super-jumbo A380, the world's largest commercial aircraft, first delivered in October 2007 to Singapore Airlines.
Boeing noted that China's cargo markets lead the global industry and forecast that Chinese air carriers would add about 370 freighter airplanes by 2027, quadrupling its total freighter fleet size.
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