[EN-AIR] China to More Than Triple Air Fleet by 2028 : Boeing

BOEING'S latest market outlook report forecast that China will more than triple commercial air fleet to 4,610 aircraft by 2028 and take delivery of 3,770 new planes, which is 42 per cent of the entire Asia Pacific market and valued at US$400 billion dollars, Logistics Week reported.

Boeing Commercial Airplanes vice president of marketing Randy Tinset described China as the world's most dynamic market for commercial aircraft.

He said the strong domestic air travel growth in China in the first half of 2009 gives Boeing confidence that the world aviation industry is beginning to recover. Boeing estimated that China will expand its entire fleet to 4,610 as a result of its air travel and air cargo market growth, about the same number of total airplanes operating in Europe today.

China will remain the largest market outside the United States for new aircraft, or at least the next two decades. The report showed that in the global aviation market China will contribute 15 per cent of investment, totalling $3.2 trillion, to buy 29,000 new commercial airplanes.

Among the new Chinese orders, 70 per cent will be for single-aisle planes such as Boeing's Next-Generation 737, which would support the country's fast-growing domestic market. In addition, China will need 790 new twin-aisle aircraft, such as the Boeing 787 Dreamliner and the 777 model, for intermediate flights.

Jumbo jets like the 747, or larger models for long haul, will only make up 75 units of China's orders for international flights, according to Boeing's calculations.

With China's cargo markets leading the global industry, Chinese freight carriers will add about 300 freighter airplanes by 2028, almost quadrupling its total freighter fleet size," Boeing added.

The report also revealed that China's domestic air cargo traffic will be growing at a rate of 9.3 per cent annually in the forecast period, fastest in the world, followed by lines within Asia (7.5 per cent), Asia-North America (6.1 per cent) and Asia-Europe (5.9 per cent).

The world's average increase will be at 5.4 per cent every year, while the rate within North America will be only at 2.4 per cent.

Source : HKSG, 07.10.09