China expected to need 6,020 new aircraft in 20 years: Boeing

Air carriers in China are expected to receive delivery of 6,020 new airplanes over the next 20 years, nearly 45 percent of the total demand in the Asia-Pacific region, according to an annual market outlook released by Boeing Co. on Thursday.

The market value for the predicted purchases will amount to approximately 870 billion U.S. dollars, it said.

New business models like low-cost carriers, airplane-leasing companies, a new generation of fuel-efficient airplanes and evolving consumer needs are driving demand for more direct flights to more destinations, said Randy Tinseth, vice president of marketing of Boeing Commercial Airplanes.

Tourism in China and intra-Asia travel support a strong demand for single-aisle airplanes, with total deliveries to reach 4,340 through 2033, the report said.

Chinese airlines with large global networks continue to look for opportunities to expand, as international flying increases from second-tier cities apart from Beijing, Shanghai and Guangzhou.

Growth in the long-haul segment is expected to result in demand for an additional 1,480 new fuel-efficient widebodies, such as the Boeing-777, 787 Dreamliner and 747-8 Intercontinental, it said.

Globally, Boeing projects investments of 5.2 trillion U.S. dollars for 36,770 new commercial airplanes to be delivered during the next 20 years. China accounts for more than 16 percent of the total demand in terms of both new deliveries and market value.

Currently, more than 50 percent of all commercial jetliners operating in China are Boeing airplanes, Boeing said.