China's commercial airplane fleet is set to more than double in size over the next 20 years, driven by robust economic growth and soaring air traffic demand, according to Boeing's latest market forecast released in Beijing on Tuesday.
Boeing's 2024 Commercial Market Outlook (CMO) for China forecasts a steady 4.1-percent annual growth in the country's commercial airplane fleet, expanding from the current approximately 4,300 to around 9,700 by 2043.
\"It's important to look at how China's economy has recovered from the pandemic and remains very healthy,\" said Darren Hulst, vice president of commercial marketing at Boeing.
In the first half of this year, China's civil aviation industry saw a total of 350 million passenger trips, marking a year-on-year increase of 23.5 percent and a 9 percent rise compared to the same period in 2019.
\"China's commercial aviation market for passengers and cargo continues to expand, driven by economic growth and airlines building their in-country networks. The economy continues to grow, private consumption continues to grow, and ultimately industrial production is also on a growth trajectory. All are important drivers of demand for both passenger and cargo traffic,\" Hulst added.
Boeing projects that the Chinese civil aviation market will require 8,830 new airplanes over the next two decades, including regional jets, single-aisle aircraft, wide-body aircraft, and freighters.
To support the growing fleet, Chinese carriers will need aviation services worth $780 billion over the next 20 years, encompassing digital solutions, maintenance, and modifications, according to the Boeing forecast.
The CMO also anticipates that air travel in China will become the world's largest traffic flow, fueling growth in the single-aisle fleet, which will account for more than three-quarters of deliveries. Additionally, China is expected to have the world's largest wide-body fleet, with demand for 1,575 new wide-body airplanes. The freighter fleet, including dedicated and converted models, will nearly triple, driven by the booming e-commerce sector.
Meanwhile, besides the Shanghai-based China Eastern Airlines, two other Chinese airlines – Air China and China Southern Airlines – received their first C919 jets at COMAC's manufacturing base in Shanghai on Wednesday. This marks the beginning of a new phase of operation for the C919 planes by multiple airlines. To date, the C919 has secured over 1,000 orders domestically and internationally, with nine aircraft delivered.
Reference(s):
Boeing says China's commercial airplane fleet will double in 20 years
cgtn.com
