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BIZCHINA / Center
Boeing: Air travel in China to soar fivefold by 2026
By Lu Haoting (China Daily)
Updated: 2007-09-19 09:48
China's domestic air travel market will grow nearly fivefold in the next
20 years, Boeing said yesterday.
With an annual growth rate of 8.1 percent, China's domestic airline
traffic is expected to increase from under one-fifth the size of the
North American domestic market today, to over half its size by 2026,
according to a Boeing report issued yesterday.
The country will remain the largest commercial aircraft market outside
the US in that period.
China will need about 3,400 new airplanes, worth US$340 billion, over the
next two decades, and the country's fleet will nearly quadruple to 4,460
by 2026, said Randy Tinseth, vice-president of marketing at Boeing
Commercial Airplanes.
The nation's air cargo market will continue to lead the world and Chinese
airlines are expected to add 300 freighters during the period,
quadrupling its fleet, Tinseth said. But only 84 new freighters will be
added, with the rest to be converted from passenger jets.
China Aviation Industry Corp I (AVIC I), the country's leading aircraft
manufacturer, will unveil its forecast on China's aviation market today
during Aviation Expo/China 2007, which runs from today until Saturday at
the China International Exhibition Center in Beijing.
China will need only 340 regional jets by 2026, accounting for 10 percent
of new aircraft deliveries, Boeing said yesterday. But AVIC I previously
forecast the country would need up to 900 feeder-line aircraft by 2025.
The Chinese company has been promoting its 70 to 100-seat ARJ21 and
50-seat MA60.
"The regional jet market is a relatively small segment in the global
aviation market and there are many competitors. It is just a market we
choose not to serve," Tinseth said.
Air travel between China and North America as well as between China and
Europe will more than double in the next 20 years, and the number of city
pairs will more than triple, Boeing said.
Single-aisle airplanes, such as the B737 and A320, will still be the
largest category, with new airplane deliveries reaching 2,200 in China,
the Seattle-based company said.
(For more biz stories, please visit Industry Updates)
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