Boeing has forecast that airlines in China will require 8,700 new planes by 2040 to meet air travel demand.
The information was released in Boeing’s 2021 Commercial Market Outlook (CMO). The report reflects on the China market’s rebound and further evolution of its airline business models.
According to the CMO, China’s economic fundamentals lay the foundation for healthy air traffic increases, including 4.4% annual economic growth and a middle-income demographic that will double by 2040.
By 2030, China’s domestic passenger market will exceed intra-European traffic. China’s domestic traffic is expected to also exceed air travel within North America by 2040.
The CMO predicts that the Chinese civil aviation industry will require more than 400,000 new aviation personnel by 2040, including pilots, technicians and cabin crew.
The 2021 China CMO also includes these projections through 2040:
- Annual passenger traffic growth of 5.4%, a similar figure to the 2020 forecast.
- Single-aisle jets accounting for nearly 6,500 deliveries.
- Single jet aisles will also fuel a total of 1,850 widebody deliveries, including passenger and cargo models.
Richard Wynne, Managing Director of China Marketing, Boeing Commercial Airplanes, explains.
“The rapid recovery of Chinese domestic traffic during the pandemic speaks to the market’s underlying strength and resilience. In addition, there are promising opportunities to significantly expand international long-haul routes and air freight capacity. Longer-term, there is the potential for low-cost carrier growth to further build on single-aisle demand.”