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            september 19, 2019

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Boeing expects China to double its air travel market share


Boeing expects China to double its six to 10 per cent global market share in air travel by 2030, increasing its expenditure on aircraft 25 per cent to US$600 billion to buy 5,000 planes, according to the Shipping Gazette.
Boeing forecasts that by 2030, the demand for domestic and international air travel will grow by an annual rate of 7.6 per cent to meet with demand and create US$4 trillion in sales for the manufacturer, 15 per cent of its total, said Boeing Commercial Airplanes vice president Randy Tinseth.
"Sustained strong economic growth, growing trade activities, increasing personal wealth and income, as well as continued market liberalisation will be the driving forces in shaping China's air travel market," he said.
Of its order, at least 1,040 will be in the class of 787 Dreamliner and 777, small and intermediate twin-aisle aircraft with an estimated 3,350 deliveries of single-aisle aircraft which it hopes could be met by its new single aisle 737 Max.
Strategic use of airlines alliances will be fundamental to major Chinese carriers wanting to make the move from domestic to international, he said.

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