Boeing (NYSE:) Co., the U.S. aircraft manufacturer, released its Commercial Market Outlook this Wednesday, projecting that China is set to receive approximately one-fifth of the world’s new aircraft deliveries over the next two decades. This prediction is largely driven by the country’s superior economic growth rate and a surge in domestic air travel demand.
The report anticipates that China will require 8,560 new commercial aircraft until 2042 to cater to its expanding needs. Of these, 6,470 are expected to be narrowbodies like the 737 Max. This demand for new aircraft is primarily attributed to China’s robust economic growth, which surpasses global averages, and a thriving demand for internal air travel.
Boeing’s forecast indicates a significant potential market for aircraft manufacturers in the coming years, with China poised to play a major role in shaping the industry dynamics. The country’s substantial economic growth and rising demand for domestic air travel are seen as key drivers of this increasing need for new aircraft.
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