Boeing says China must spend nearly $ 3 trillion for the purchase of new aircraft

Boeing said the growing demand for Chinese aircraft would generate nearly $ 3 trillion in industrial business over the next two decades.

According to the latest market outlook, the US aircraft manufacturer predicts that China will soon become the world's largest aviation market and will need 8,090 new aircraft by 2038. Boeing believes that 39, here ten years, one in five passengers will be Chinese.

The figure would be $ 1.3 trillion in current prices. Boeing said fleet maintenance services would be even bigger, at $ 1.6 trillion, which means nearly $ 3 trillion worth of business could be won.

Boeing said that passenger traffic in China is expected to increase by more than 6% per year until 2038 and that the Chinese middle class is expected to double in size by 10 years.

While domestic flights are expected to represent the lion's share of growth, international travel to destinations abroad will also increase.

"The growing middle class, the significant investments in infrastructure, and the advanced technologies that make airplanes more efficient and effective continue to generate significant demand for airlift," said Randy Tinseth, vice president of corporate marketing, on Tuesday. Boeing.

Boeing analysts have broken down China's needs for new and replacement aircraft by 2038 into 5,960 single aisle aircraft, 1,780 widebody aircraft, 230 cargo ships and 120 regional jets.

Globally, Boeing expects aircraft sales for $ 6.8 trillion by 2038 and $ 9.1 trillion in additional services.

More than 2,000 Boeing aircraft have already been delivered to China and about a quarter of the aircraft manufacturers' production line is now delivered to Chinese customers. Boeing said that one-third of its 737 aircraft are currently delivered to China.

The Zhoushan 737 Completion and Delivery Center is a joint venture of Boeing and the Chinese Commercial Aircraft Corporation, Ltd. (COMAC). It was built to provide interior furniture and exterior paint to planes arriving from Seattle.

Last December, Air China received a 737 Max 8, Boeing's first aircraft to be completed in China for a local customer.

But on March 11, China ordered its airlines to suspend the operations of their 737 MAX 8 after two fatal model crashes in the next five months. As evidence of China's growing importance as the aviation regulator, most other agencies and airlines have followed suit over the next two days.