Boeing forecasts China's commercial airplane fleet to double over 20 years

China's commercial airplane fleet is projected to more than double in size over the next 20 years, driven by economic growth and air traffic demand, according to Boeing's latest market forecast released in Beijing on Tuesday.

Boeing's 2024 Commercial Market Outlook for China predicts a 4.1 percent annual growth in the country's commercial airplane fleet over the next 20 years, from the current 4,300 or so to around 9,700 by 2043.

"It's important to look at how China's economy has recovered from the pandemic and remains very healthy," said Darren Hulst, Boeing vice president of Commercial Marketing.

"The economy continues to grow, private consumption continues to grow, and ultimately industrial production is also on a growth trajectory. All are important drivers of demand for both passenger and cargo traffic," he said.

Boeing forecasted that the Chinese civil aviation market will require 8,830 new airplanes over the next 20 years, including regional jets, single aisle aircraft, widebody aircraft and freighters.

Over the next 20 years, Chinese carriers will need aviation services worth US$ 780 billion to support the growing fleet, including digital solutions, maintenance and modifications, according to the Boeing market forecast.