- Over the next two decades, China is expected to play a significant role in the global aircraft industry, accounting for approximately one-fifth of all new aircraft deliveries. This growth is attributed to China's robust economic expansion and the surging demand for domestic air travel, as stated by Boeing. Boeing's Commercial Market Outlook, unveiled on Wednesday, reveals that China is projected to require 8,560 new commercial aircraft by 2042. This includes 6,470 narrowbody aircraft like the 737 Max.
- The majority of these new aircraft, about two-thirds, will be acquired to support fleet expansion, while the remaining will replace older airplanes. Consequently, China's commercial aircraft fleet is set to more than double, reaching nearly 9,600 planes within the next two decades, as per Boeing's analysis. Boeing's operations in China had been severely impacted by the grounding of its top-selling 737 Max, which remained grounded for an extended period even after resuming operations in most other regions.
Why it matters
Last month, sources familiar with the situation informed Bloomberg News that Boeing was preparing to recommence deliveries in China after a four-year hiatus. In addition to aircraft, Boeing's forecast also predicts a substantial demand for aviation personnel in China. The company anticipates that China will require approximately 134,000 pilots, 138,000 technicians, and 161,000 cabin crew members to cater to the expanding aviation market.