Thursday, September 8, 2011
With the U.S. fading and China rising, Boeing says sustained economic growth, growing trade activities, increasing personal wealth and personal income, are the driving forces in shaping China’s exploding air travel market.
The figure projected by Boeing is up 700 airliners from November 2010, when Boeing predicted that China would require around 4,330 new commercial airplanes over the next 20 years. The increase is the result of air travel demand growing by around 7.6 percent per year in China.
Boeing expects small and intermediate twin-aisles, such as the Boeing 787 Dreamliner and the wide-body 777, will be a significant part of these 5,000 deliveries. These airliners will constitute over 40 percent of the market value in sales, with 1,040 deliveries anticipated.