$390 Billion Market Driven By Need For Narrowbody Aircraft
Boeing detailed its 2008 Current Market Outlook (CMO) for the
China region Wednesday, forecasting a market for 3,710 new
airplanes worth about $390 billion over the next 20 years.
"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.
China air travel and air cargo market growth will cause China's
fleet to more than triple to 4,560 airplanes by 2027-about as many
airplanes as are in Europe today.
Single-aisle airplanes will account for 70 percent of the new
purchases, driven by the world's fast-growing domestic market.
Single-aisle airplanes such as the Boeing Next-Generation 737 will
be the largest category, with 2,600 new airplane deliveries. Demand
for intermediate twin-aisles, such as the Boeing 787 Dreamliner and
777, will result in approximately 780 airplane deliveries. When
combined, the single-aisle and intermediate twin-aisle market will
make up 91 percent of China's total delivery dollars.
Demand will include a limited number of large airplanes
(747-size and larger) to connect China with other major world
destinations. The market forecast calls for about 100 airplanes in
that category.
With China's cargo markets leading the global industry, Chinese
air carriers will add about 370 freighter airplanes by 2027,
quadrupling its total freighter fleet size.
The Boeing 2008 forecast combines today's market environment
with a long-term view that portrays how air transport will be
transformed over the next 20 years. It's an outlook that indicates
continued strong fundamentals underlying the need for new
airplanes-including economic growth, world trade, aviation market
liberalization and new aircraft capabilities.
The detailed study enables Boeing to better work with airlines
in supporting their fleet plans in conjunction with their future
economic growth. The outlook facilitates Boeing's strategic plans
to drive the development of new airplanes and the improvement of
existing models.
Worldwide, Boeing projects investments of $3.2 trillion for
29,400 new commercial airplanes to be delivered during the next 20
years.