Boeing highlights China's booming airplane demand

The Boeing Company said Thursday that it projects a demand for 5,580 new airplanes in China over the next 20 years.

The planes will be valued at 780 billion U.S. dollars, according to the company's annual China Current Market Outlook.

"Thanks to strong economic growth and increased access to air travel, we project China traffic to grow at nearly 7 percent each year," said Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes.

Tourism in China and intra-Asia travel will help spur strong demand for single-aisle airplanes, with total deliveries in that segment reaching 3,900 through 2032, according to Boeing's forecast.

Growth in long-haul international traffic is expected to result in demand for an additional 1,440 new fuel-efficient widebodies, it added.