Boeing said it expects China to more than double its commercial airplane fleet by 2043 to meet growing demand for passenger and cargo air travel.
The planemaker shared the projection on August 26, 2024, in its 2024 Commercial Market Outlook (CMO), the company’s long-term forecast of demand for commercial airplanes and related services.
“China’s commercial aviation market for passengers and cargo continues to expand, driven by economic growth and airlines building their in-country networks,” Darren Hulst, Boeing Vice President of Commercial Marketing, said in a press release. “As this forecast shows, China’s airlines will see strong demand, requiring further growth of their modern fuel-efficient fleets.”
According to the company’s CMO, China’s commercial fleet will grow 4.1% annually, from 4,345 to 9,740 airplanes by 2043. Additionally, annual passenger traffic growth of 5.9% will exceed the global average of 4.7%, the report said.
Boeing’s CMO forecast also predicts that air travel in China will become the world’s largest traffic flow, driving growth in the single-aisle fleet, which accounts for more than three-quarters of deliveries.
According to the report, China is set to have the biggest widebody fleet in the world by 2043, with demand for 1,575 new widebody airplanes. From 2024 to 2043, China is projected to receive a total of 8,830 new aircraft, including 365 regional aircraft, 6,720 single-aisle aircraft, and 1,575 widebodies.
China’s freighter fleet is projected to nearly triple by growing e-commerce sector demand. The country is expected to receive 170 freighters between 2024-2043.
The planemaker also forecasted that Chinese carriers will need aviation services worth $780 billion to support the growing fleet and will need to hire and train nearly 430,000 new personnel.