Boeing predicts huge Asian market
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Manufacturing News, Source : TheManufacturer.com
Published : 19 Sep 2003 15:42
Not all the news about manufacturing and China is bad for US firms.
The Boeing Company yesterday released its 2003 Current Market Outlook (CMO) for the People's Republic of China, forecasting a requirement in China for nearly 2,400 new jet airplanes worth $197 billion over the next 20 years.
The report estimates that China's airlines will add 1,960 new airplanes to serve its domestic markets including Hong Kong and Macau. Nearly 440 new airplanes will be added by China's airlines to provide international service.
It goes on to state that by 2022, Chinese carriers will be flying more than 2,850 passenger and cargo airplanes, making China's fleet the largest outside of the United States. In fact, China's commercial jet fleet will quadruple in size over the next twenty years. The need for new airplanes is required to support a 7.1 percent annual increase in air travel in China from 2003 to 2022, compared to the world average of 5.1 percent.
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