Business

September 5, 2012

Boeing forecasts China will need 5,260 new airplanes by 2031

Boeing, China’s leading provider of passenger airplanes, projects that China will need 5,260 new commercial airplanes valued at $670 billion over the next 20 years.
China is forecast to be the second largest market for new commercial airplanes.

“It’s impressive that over 75 percent of the demand in China will be for growth instead of replacement,” said Randy Tinseth, Boeing Commercial Airplanes vice president of Marketing. “Sustained strong economic growth, growing trade activities and increasing personal wealth are some of the driving forces. Travelers also care about increased connectivity, efficiency and lower prices.”

Boeing predicts that small and intermediate twin-aisles, such as the Boeing 787 Dreamliner and 777, will account for a significant part of future deliveries. These airplanes are expected to be the highest value segment, making up 48 percent of the market in value with some 1,190 new deliveries anticipated.
The expansion of the Chinese market has also unleashed pent-up demand for broader international travel.

“We expect Chinese carriers to experience rapid international expansion over the next 20 years, with an annual increase rate of 8.9 percent on average. That’s not only because the market demand is growing, but because Chinese carriers now have the capability and resources to compete in the tough long-haul international market,” Tinseth added.

Tourism in China will also help fuel a strong demand for single-aisle aircraft, with total deliveries of single-aisle airplanes reaching 3,650 through 2031. Tinseth said the new 737 MAX family will allow Boeing to continue to deliver the most fuel-efficient, capable airplane with the lowest operating costs in the single-aisle market.

Worldwide, Boeing projects investments of $4.5 trillion for 34,000 new commercial airplanes to be delivered during the next 20 years. The complete forecast is available at www.boeing.com/commercial/cmo/index.html.

Boeing has been celebrating its 40th anniversary of providing commercial aircraft and services to China’s aviation industry this year. With partners across generations, Boeing has built long-standing relationships with the Chinese government, airlines, the aviation industry and aerospace suppliers.

Today, Boeing jets are the mainstay of China’s air travel and cargo system. More than 50 percent of all the commercial jetliners operating in China are Boeing airplanes. Some 6,000 Boeing airplanes fly throughout the world with integrated China-built parts and assemblies. China has a component role on every current Boeing commercial airplane model – the 737, 747, 767, 777, as well as the world’s newest and most innovative airplane, the Boeing 787 Dreamliner.




All of this week's top headlines to your email every Friday.


 
 

 

Northrop Grumman supports U.S. Air Force Minuteman missile test launch

Northrop Grumman recently supported the successful flight testing of the U.S. Air Force’s Minuteman III intercontinental ballistic missile weapon system. The operational flight test was conducted as part of the Air Force Global Strike Command’s Force Development Evaluation Program. This program demonstrates and supports assessment of the accuracy, availability and reliability of the...
 
 
boeing-737

Boeing delivers first direct purchase 737-700 to Ruili Airlines

Boeing and Ruili Airlines Nov. 25 celebrated the arrival of the airline’s first direct purchase Next-Generation 737-700. Ruili is a newly established private airline based at Changshui International Airport in Kunming, th...
 
 
boeing-india

Boeing delivers sixth P-8I maritime patrol aircraft to India

Boeing delivered the sixth P-8I maritime patrol aircraft to India, on schedule, Nov. 24, arriving at Naval Air Station Rajali to join five others being used by the Indian Navy. The P-8I is part of a contract of eight awarded in...
 

 
boeing-SC-787

Boeing South Carolina begins final assembly of its first 787-9 Dreamliner

Boeing has started final assembly of the 787-9 Dreamliner at its South Carolina facility. The team began joining large fuselage sections of the newest 787 Nov. 22 on schedule, a proud milestone for the South Carolina team and a...
 
 
NG-people2

Northrop Grumman names communications directors for Unmanned Systems, Military Aircraft Systems

Faith Jennings Northrop Grumman has announced that industry veteran Faith Jennings, and retired Rear Adm. Vic Beck will lead Communications for its Aerospace Systems sector’s unmanned systems and military aircraft divisio...
 
 

Northrop Grumman, Air Force complete integrated baseline review

Northrop Grumman has successfully conducted the integrated baseline review of the production, deployment and initial sustainment phase for the Enhanced Polar System Control and Planning Segment. The U.S. Air Force’s EPS provides space-enabled, secure communications capabilities to polar users in support of national objectives. EPS CAPS receives telemetry and supplies configuration command...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>