Boeing: China Will Need 5000 New Planes by 2030
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Exhibition Name: Boeing: China Will Need 5000 New Planes by 2030
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* Boeing projects $600 billion market for 5,000 new airplanes over the next 20 years
* Twin-aisle demand surges with the international expansion of Chinese airlines

BEIJING, Sept. 7, 2011 /PRNewswire/ -- The Boeing (NYSE: BA) Company, China's leading provider of passenger airplanes, projects that China will require 5,000 new commercial airplanes valued at $600 billion over the next 20 years.

"Sustained strong economic growth, growing trade activities, increasing personal wealth and income, as well as continued market liberalization will be the driving forces in shaping China's air travel market," said Randy Tinseth, Boeing Commercial Airplanes vice president of Marketing, who shared the forecast today that featured Boeing's outlook for China's commercial airplane market through 2030. "We expect China will be the second largest country taking new commercial airplane deliveries due to its air travel demand growing at an annual rate of 7.6 percent on average."

Boeing forecasts that small and intermediate twin-aisles, such as the Boeing 787 Dreamliner and 777, will be a significant part of these deliveries. They are expected to constitute over 40 percent of the market in value, with some 1,040 deliveries anticipated. Major Chinese airlines, taking advantage of their membership in the major airline alliances, will gradually shift their focus from domestic to international markets to become competitive global players, Tinseth pointed out.

As a result of the boost for China's inbound tourism, the single-aisle market will also remain strong, with total deliveries reaching 3,550. Tinseth said the new 737 MAX family will allow Boeing to continue to deliver the most fuel-efficient, most capable airplane with the lowest operating costs in the single-aisle market segment.

Boeing released its 2011 Current Market Outlook (CMO) in June at the Paris Air Show, which projected a $4 trillion global market for 33,500 new airplanes over the next 20 years. The CMO did not provide a breakout for China as it typically does forcing tail spotters like me to say: “What up with that?”

This was especially disconcerting as Jim Albaugh, president and CEO of Boeing Commercial Airplanes previously summed up China’s importance in the global aviation supply chain simply by saying: “There is not a plane we build that doesn’t have parts from China in it.”

In reference to “other manufacturers,” Boeing and Airbus face competition from China itself. China’s homegrown jet, the Comac C919, is slated to enter service in 2016 and will be a direct challenger to both the Boeing 737 and Airbus A320 families.

The complete forecast is available at www.boeing.com/commercial/cmo/index.html.

Source: Reuters and Forbes

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