Boeing Co on Thursday raised its forecast slightly for China's aircraft demand for the next 20 years, betting on the country's quick rebound from COVID-19 and future growth in its budget airline sector and e-commerce.
Chinese airlines will need 8,700 new airplanes through 2040, 1.2 percent higher than its previous prediction of 8,600 planes made last year. Those would be worth US$1.47 trillion based on list prices, the US planemaker said in a statement.
The 1.2 percent increase contrasted with the 6.3 percent growth Boeing forecast last year, which made China a bright spot in the aviation market at the height of coronavirus lockdowns worldwide.
Earlier this month, Boeing revised up long-term forecasts for global airplane demand on the back of a strong recovery in commercial air travel in domestic markets like the United States.
Boeing projected a need for nearly 6,500 new single-aisle airplanes over the next 20 years, while China's widebody fleet, including passenger and cargo models, will require 1,850 new planes, accounting for 20 percent of total deliveries.
