{"id":8933,"date":"2020-11-15T11:59:04","date_gmt":"2020-11-15T17:59:04","guid":{"rendered":"http:\/\/planesintheair.com\/?p=8933"},"modified":"2020-11-15T11:59:04","modified_gmt":"2020-11-15T17:59:04","slug":"boeing-forecasts-strong-growth-in-chinas-aviation-market","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=8933","title":{"rendered":"Boeing Forecasts Strong Growth in China\u2019s Aviation Market"},"content":{"rendered":"\n

Boeing [NYSE: BA<\/a>] expects China\u2019s airlines to acquire 8,600 new airplanes valued at $1.4 trillion and commercial aviation services valued at $1.7 trillion over the next 20 years, reflecting an expected robust recovery following the COVID-19 pandemic. Boeing shared its annual China market forecast today as part of the 2020 Commercial Market Outlook (CMO), which shows anticipated demand for commercial airplanes and services.<\/p>\n\n\n\n

China\u2019s rapidly growing middle class, increased economic growth and growing urbanization are all factors in the Boeing forecast, suggesting the country will lead passenger travel globally in the next few years. Since 2000, China\u2019s commercial jet fleet has expanded sevenfold, and approximately 25% of all aviation growth worldwide in the last decade has come from China. Boeing forecasts this trend will continue over the next 20 years.<\/p>\n\n\n\n

\u201cWhile COVID-19 has severely impacted every passenger market worldwide, China\u2019s fundamental growth drivers remain resilient and robust,\u201d said Richard Wynne, managing director, China Marketing, Boeing Commercial Airplanes. \u201cNot only has China\u2019s recovery from COVID-19 outpaced the rest of the world, but also continued government investments toward improving and expanding its transportation infrastructure, large regional traffic flows, and a flourishing domestic market mean this region of the world will thrive.\u201d<\/p>\n\n\n\n

Despite the challenges imposed by the pandemic, China\u2019s projected airplane and services market represents a nearly 7% increase over last year\u2019s 20-year CMO forecast. These increases are driven by continued high demand for single-aisle airplanes and China\u2019s expanding share of passenger widebodies to support international routes, along with a large replacement cycle as China\u2019s fleet matures. Boeing also anticipates growth in Chinese demand for new and converted freighters and digital solutions to help carriers further innovate and succeed.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The 2020 China CMO includes:<\/p>\n\n\n\n

– Boeing forecasts China\u2019s annual passenger traffic growth to be 5.5% over the next 20 years<\/p>\n\n\n\n

– Boeing estimates operators will need more than 6,450 new single-aisle airplanes in China over the next 20 years. Single-aisle airplanes, such as the 737 family, continue to be the main driver of capacity growth<\/p>\n\n\n\n

– In the widebody market, Boeing forecasts demand for 1,590 deliveries by 2039 in China. Widebody airplanes will account for 18% of China\u2019s deliveries during the 20-year period, down 4% from last year\u2019s forecast due to an anticipated slower recovery in global long-haul traffic<\/p>\n\n\n\n

– China has the world\u2019s highest e-commerce growth rate but significant room for development of air express shipping, presenting an opportunity for robust freighter demand<\/p>\n\n\n\n

– Long-term aviation industry growth in China is expected to drive the need for 395,000 commercial pilots, cabin crew members and aviation technicians to fly and to maintain the country\u2019s airplane fleet<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Boeing [NYSE: BA] expects China\u2019s airlines to acquire 8,600 new airplanes valued at $1.4 trillion and commercial aviation services valued at $1.7 trillion over the next 20 years, reflecting an <\/p>\n","protected":false},"author":1,"featured_media":8935,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10172,4510,8637,10174,797,4813,3965,7890,89,5637,4552,6117,10701,10700,5992,5670,2203,4957,5676,10169,6711,10176,1397,10195,10171,868,10182,1103],"tags":[45,3934,539,420,118,1341,4344,11958,160,1864,41,1195,7495,446,12877,851,12878,1563,655,5304,10634,3353,12879,2493,2907,2837,4241,4253,575,2170,1483,7507,469,9301,688,5406,1883,9347,1659,199,4741,1567,3067,718,412,1401,10938,1685,187,7136,7301,9011,719,987,1556,3821,1353,4307,6869,1691,1658,1916,1863,1972,839],"class_list":["post-8933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace","category-aerospace-news","category-air-cargo-news","category-airline","category-airline-news","category-airplane-news","category-airport-news","category-asia-news","category-aviation-news","category-business-news","category-cargo-news","category-china-news","category-coronavirus","category-covid-19","category-economic-news","category-economy-news","category-finance-news","category-global-politics","category-international-news","category-news","category-shipping-news","category-stock-news-2","category-stock-news","category-transport","category-transportation","category-transportation-news","category-travel","category-travel-news","tag-45","tag-acquire","tag-air","tag-airline","tag-airlines","tag-airplanes","tag-aisle","tag-anticipated","tag-aviation","tag-body","tag-boeing","tag-cabin","tag-challenges","tag-china","tag-chinas","tag-class","tag-cmo","tag-commercial","tag-company","tag-converted","tag-covid-19","tag-crew","tag-cycle","tag-demand","tag-digital","tag-economic","tag-expanding","tag-expected","tag-express","tag-family","tag-fleet","tag-forecasts","tag-freighters","tag-globally","tag-government","tag-growing","tag-growth","tag-improving","tag-infrastructure","tag-international","tag-investments","tag-market","tag-middle","tag-new","tag-news","tag-nyse","tag-pandemic","tag-passenger","tag-pilots","tag-recovery","tag-replacement","tag-robust","tag-routes","tag-services","tag-shipping","tag-single","tag-solutions","tag-strong","tag-technicians","tag-transport","tag-transportation","tag-travel","tag-wide","tag-widebody","tag-worldwide"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8933"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8933\/revisions"}],"predecessor-version":[{"id":8936,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8933\/revisions\/8936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/media\/8935"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}