China's market for commercial airliners will double over the next 20 years to a total of 8,700 new planes costing $1.7 trillion, Boeing said Thursday in a forecasting report
WASHINGTON (Pakistan Point News / Sputnik - 23rd September, 2021) China's market for commercial airliners will double over the next 20 years to a total of 8,700 new planes costing $1.7 trillion, Boeing said Thursday in a forecasting report.
"Boeing forecasts that China's airlines will require 8,700 new airplanes by 2040, valued at $1.47 trillion, to meet expanding commercial air travel demand," the company said in a press release. "The 20-year forecast reflects the China market's rebound and further evolution of its airline business models."
Boeing shared the China forecast as part of the 2021 Commercial Market Outlook (CMO), the company's long-term forecast of demand for commercial airplanes and services, the release explained.
"China's economic fundamentals lay the foundation for healthy air traffic increases... By 2030, China's domestic passenger market will exceed intra-European traffic; by 2040, China's domestic traffic is expected to also exceed air travel within North America," Boeing said.
Boeing's CMO also forecasts that China's civil aviation industry will require more than 400,000 new aviation personnel by 2040, including pilots, technicians and cabin crew. Boeing plans to train nearly 100,000 Chinese aviation professionals with more than 2,500 Boeing employees in the country, the release added.
