China to be fastest-growing aviation market

China - China will be the next top aviation market, said The Boeing Company in its latest Current Market Outlook (CMO).

The Boeing Company said it projects a market for 3,710 new airplanes worth US$390 billion over the next 20 years in China in its 2008 CMO.

According to Boeing, single-aisle airplanes will account for 70% of the new purchases. The Next-Generation 737 is predicted to make the bulk of that figure, with 2,600 new airplane deliveries. While demand for intermediate twin-aisles airplanes, such as the Boeing 787 Dreamliner and 777, will result in approximately 780 airplane deliveries.

When combined, the single-aisle and intermediate twin-aisle market will total 91% of China's total delivery dollars.

Randy Tinseth, marketing vice president of Boeing Commercial Airplanes said, "China will continue to be the fastest-growing aviation centre in the world, requiring 41% of the entire Asia-Pacific region airplane demand. This makes China the largest market outside of the US for new commercial airplanes."

Boeing predicts China's air travel and air cargo market growth will cause China's fleet to more than triple to 4,560 airplanes by 2027. This figure will equal the current number of airplanes in Europe today.

With China's cargo markets leading the global industry, Chinese air carriers are projected to add approximately 370 freighter airplanes by 2027, quadrupling its current total freighter fleet size.

The Boeing 2008 forecast combines today's market environment with a long-term view that portrays how air transport will be transformed over the next 20 years. It is an outlook that indicates continued strong fundamentals underlying the need for new airplanes including economic growth, world trade, aviation market liberalisation and new aircraft capabilities.