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Boeing raises 20-year forecast for demand for China



Boeing Dreamliner 787 Air China aircraft are on the production line at the company's final assembly plant in North Charleston, South Carolina.

Travis Dove | Bloomberg | Getty Images

On Tuesday, Boeing lifted the forecast for China's aviation demand for the next 20 years, supported by expectations of strong demand for flights, but growth in new fleet will be slower than last year's aircraft manufacturer's prediction.

Chinese carriers will need 890 new aircraft by 2038, 5.2% higher than Boe's forecast last year. It would be
worth almost $ 1

.3 trillion based on list prices.

Last year, Boeing predicted 6.2% growth in the country's new aviation demand for 7,690 aircraft in the period to 2037.

"An expanding middle class, significant infrastructure investment and advanced technologies that make aircraft more proficient and efficient, continues to drive huge demand for flights, "said Randy Tinseth, Vice President of Commercial Marketing for Boeing.

Boeing and its European rival, Airbus, have been running to increase market share in China, the world's fastest-growing aviation market, with both opening assembly plants in the country.

But the global anchoring of Boeing's 737 MAX fleet in the wake of two fatal crashes has limited the ability of
Chinese airlines to expand capacity, with softer travel demand pushing passenger yield in the midst of a receding economy.

Boeing estimated a need for 5,960 new disposable aircraft over the next 20 years, representing 74% of the total delivery of
while China's wide body fleet will need 1780 new aircraft, tripling the country's current wide body fleet size.

China will also need commercial services for around $ 1.6 trillion Boeing said.


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