Chinese demand for Boeing airplanes valued at almost $1tn

China’s leading provider of commercial airplanes, Boeing has today projected a demand in the country for 6,330 new airplanes over the coming 20 years, estimating the total value at $950 billion.

Detailing the forecast in its annual China Current Market Outlook (CMO), the figures predict demand for 4,630 single-aisle, 1,510 widebody and 190 regional aircraft through to 2034.

New Airplane Deliveries to China: 2015-2034

Airplane type Seats Total deliveries Dollar value
Regional jets 90 and below 190 $10bn
Single-aisle 90-230 4,630 $490bn
Small wide-body 200-300 810 $210bn
Medium wide-body 300-400 650 $220bn
Large wide-body 400 and above 50 $20bn
Total ———– 6,330(16.6% of world total) $950bn(17% of world total)

Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes, commented: “Despite the current volatility in China’s financial market, we see strong growth in the country’s aviation sector over the long term.

“Over the next 20 years, China’s commercial airplane fleet will nearly triple: from 2,570 airplanes in 2014 to 7,210 airplanes in 2034, with more than 70% of these deliveries accommodating growth.”

The new 777X, which builds on the 777 design and includes new engines, an all-new composite wing leverages technologies from the 787 Dreamliner - image courtesy of Boeing
The new 777X includes new engines and an all-new composite wing and leverages technologies from the 787 Dreamliner (image courtesy of Boeing).

As China looks to become the world’s largest domestic air travel market, Boeing cites the growth in new carriers and low-cost airlines in developing and emerging markets, alongside the continuous expansion of established airlines, as driving the rise in demand for single-aisle aircraft.

China’s low-cost carriers are currently responsible for about 8% of single-aisle market demand, expected to rise to 25-30% of demand by 2034.

With the country more than doubling its long-haul international capacity over the past three years, Boeing expects the popularity of its widebody aircraft – such as the 777-300ER (Extended Range), 777X and the 787 Dreamliner – to increase significantly.

Worldwide, Boeing projects investments of $5.6tn for 38,050 new commercial airplanes to be delivered during the next 20 years. The complete global forecast is available at www.boeing.com/cmo.

According to the aerospace giant, Boeing jets are the “mainstay of China’s air travel and cargo system,” with more than 50% of all the commercial jetliners operating in China being Boeing airplanes.

Over 8,000 Boeing airplanes fly throughout the world with integrated China-built parts and assemblies, with the country occupying a component role on every current Boeing commercial airplane model – the Next-Generation 737; 747; 767; and 777; as well as the 787 Dreamliner.