According to Boeing’s most recent market forecast released today, China’s commercial airplane fleet is expected to more than double in size within the next two decades, fueled by economic expansion and increasing air traffic demand.
The 2024 Commercial Market Outlook for China anticipates an annual growth rate of 4.1 percent for the nation’s commercial airplane fleet, projecting an increase from approximately 4,300 aircraft today to around 9,700 by the year 2043.
Darren Hulst, Boeing’s vice president of Commercial Marketing, emphasized the significance of examining China’s economic recovery from the pandemic, noting its robust health. He stated, “The economy is experiencing ongoing growth, with private consumption also on the rise, and industrial production following a similar upward trend. These factors are crucial in driving demand for both passenger and cargo transportation.”
According to Boeing, approximately 60% of the new aircraft in China will be allocated for expansion, while the remaining 40% will serve to replace older models with more fuel-efficient alternatives. Boeing also noted that it is the primary customer of China’s aviation manufacturing sector, with more than 10,000 of its aircraft utilizing components produced in China.
Boeing has projected that the Chinese civil aviation sector will need 8,830 new aircraft over the next two decades, encompassing regional jets, single-aisle planes, widebody aircraft, and cargo planes.
According to the Boeing market forecast, Chinese airlines will require aviation services valued at 780 billion U.S. dollars over the next two decades to accommodate their expanding fleet, which encompasses digital solutions, maintenance, and modifications.
