Assembly Lines: China Needs More Commercial Planes
CHICAGO-A recent market outlook study by Boeing Co. is projecting that by 2023 China's air carriers will require nearly 2,300 new airplanes. This will make China the largest commercial aviation market outside the United States during the next 20 years.
The total cost of these purchases will be approximately $183 billion. The result will be a quadrupling in the size of China's fleet to 2,801 airplanes by the end of the forecast period. Boeing projects that increased air travel will outpace China's gross domestic product during the forecast period, driving the demand for new aircraft. China's overall air traffic market is expected to increase 7.3 percent annually, led by an average annual growth in domestic flights of 8.1 percent.