New airplanes will continue to be in high demand, given the projected growth in China’s aviation market.
Boeing remains bullish on its forecast for China, suggesting it will need more than 8,000 new aircraft over the next two decades. The US plane manufacturer says that single aisle narrowbodies will make up most of the demand, while a little over 1,500 widebody aircraft would be required in China by 2042.
Boeing predicts that China will need 8,560 new commercial aircraft through 2042. This accounts for around 20% of global airplane deliveries over the next 20 years. The US planemaker has also said that economic growth and an increase in demand for travel, particularly within the country, will help expand the fleet of Chinese carriers to almost 9,600 planes.
Darren Hulst, Boeing’s Vice President of Commercial Marketing, commented,
“Domestic air traffic in China has already surpassed pre-pandemic levels and international traffic is recovering steadily. As China’s economy and traffic continue to grow, Boeing’s complete line-up of commercial jets will play a key role in helping meet that growth sustainably and economically.”
Indeed, Boeing’s prediction about China is similar to the one made by Airbus earlier this year. The European aircraft manufacturer had said that China would account for 23% of global aircraft demand over the next two decades and could acquire 9,440 additional planes by then.
breaking down its analysis, Boeing said that given the strong demand for domestic travel in China, 6,470 of the 8,560 new planes arriving in the coming years will be single-aisle narrowbodies. As many as 1,550 widebody planes will also be delivered to the country during this time. The demand for regional jets and freighters will be 350 and 190, respectively.
Two-thirds of the new planes will be needed due to the fleet development programs of Chinese airlines, while the rest will replace older aircraft and reduce the overall carbon emissions of the country’s aviation sector.
All these new planes will also generate employment opportunities, and Boeing estimates that these many aircraft will need more than 400,000 aviation personnel, including 134,000 pilots, 138,000 technicians, and 161,000 cabin crew members. Maintenance and upkeep of the new aircraft alone would fuel demand for $675 billion in aviation services.
Boeing’s prediction for China comes at a time when it is apparently close to restarting the deliveries of its 737 MAX aircraft in the country. It was reported in August that the plane maker is ready to deliver the type to China after a four-year pause.
China Southern Airlines was the first to resume MAX services earlier this year when China lifted the ban on the aircraft and is likely to be the first recipient of new 737 MAXs in the country. Indeed, Boeing would want to resume the deliveries of the 737s soon in China, as much of its latest forecast depends upon the continued success of the type in the country.