Wednesday, December 10, 2014 11:38 am
China will require more than 5,300 new aircraft in the coming two decades as demand for domestic air travel mounts, Airbus forecast Wednesday.
The Europe-based aircraft manufacturer said its 2014-2033 Global Market Forecast showed China was expected to take delivery of 5,363 new passenger and freight aircraft during the period.
Airbus, manufacturer of the A380, the world’s largest passenger jet, competes for orders with Boeing of the United States.
Boeing said in its own forecast released in September that China will need 6,020 new aircraft over the same time period as flight demand increases and diversifies.
By aircraft type, Airbus said that its forecast included 3,567 single aisle, 1,477 twin-aisle and 319 very large aircraft.
The aircraft have a combined market value of $820 billion and account for 17 percent of total global demand for more than 31,000 new aircraft over the period, it projected.
Airbus also said China will oust the US in 2023 as the world’s biggest domestic air traffic market by passenger numbers, as economic development pushes demand for air travel.
“Domestic passenger traffic in mainland China has more than quadrupled over the last 10 years, and it will become the world’s number one aviation market within the next 10 years,” senior Airbus executive John Leahy said in the release.
“In the next 20 years, the greatest demand for passenger aircraft will come from China,” he said.