Boeing Predicts China Will Be World’s Largest Plane Market By 2033
China will be the largest customer for new planes in the world in the course of the next two decades, according to a Boeing forecast released Thursday, and the country will order more than 6,000 new planes in that timeframe.
Chicago-based Boeing said that Chinese airlines will take delivery of 6,020 jets, or 45% of the total demand for planes in the Asia Pacific region between now and 2033. Currently, China has 2,310 planes in the air according to the airplane manufacturer, and over 75% of the new planes will be used to provide additional capacity.
Boeing’s forecast reflects a shift from very large airplanes such as competitor Airbus’ A380 and the Boeing 747-8 Intercontinental to small- and medium-sized wide-body jets such as Boeing’s Dreamliner and 777 and Airbus’ A350.
Almost three-quarters of the demand in China will be for smaller, single-aisle planes, according to the forecast, while widebodies will comprise 25% and regional jets 2%.
China’s low-cost carriers are driving much of the demand for more direct flights, said Randy Tinseth, vice president of marketing for Boeing’s commercial plane unit. “China’s aviation market is going through dynamic changes” that are introducing new business models, he added.
(Photo: Accura Media Group)