AIRLINE INDUSTRY INFORMATION-©1997-2007 M2 COMMUNICATIONS LTD
The Boeing Company (NYSE: BA) has predicted in its updated annual forecast for the commercial aircraft market that China will require 3,400 new aircraft worth approximately USD340bn over the next 20 years.
The company said that, over the forecast period, China will have the fastest-growing market, making it the largest market outside of the US for new commercial aircraft, and will continue to lead all domestic air travel markets with a long-term passenger-kilometre growth rate of 8.8%.
Boeing went on to predict that, after the anticipated increase in passenger traffic for the 2008 Beijing Olympic Games, the China domestic market will grow nearly five-fold by 2026, and the country's fleet will nearly quadruple to 4,460 aircraft by 2026.
Chinese air carriers will also add about 300 freighter aircraft by 2026, according to the company's predictions.
(Comments on this story may be sent to [email protected])
