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The
U.S. plane maker expects China will need 6,330 aircraft over the
next 20 years, a 5 percent rise from last year's two-decade
estimate.. It valued the aircraft demand at $950 billion.
"Despite the current volatility in China's financial market, we
see strong growth in the country's aviation sector over the long
term," Randy Tinseth, vice president of marketing at Boeing
Commercial Airplanes, told reporters in Beijing.
Boeing estimates that China's commercial airplane fleet will
nearly triple over the next 20 years, from 2,570 aircraft in
2014 to 7,210 aircraft in 2034.
By that time, Tinseth said, China will be the world's largest
domestic air travel market. "We've really seen no slowing in the
trajectory of traffic here in China," he added.
Both Boeing and rival Airbus Group SE <AIR.PA> are relying on
China to fuel growth in their order books.
Airbus, which claims a 50 percent market share with more than
1,180 aircraft in operation with Chinese airlines, in July
announced plans to set up a completion and delivery center for
its A330 jets in Tianjin, a crucial build out of its assembly
facility now in operation.
Boeing estimated China will buy a total of 4,630 single-aisle
airplanes during the 20-year period, driven in part by the
growth of new carriers and low-cost airlines.
Additional demand for 1,510 widebody airplanes, including 50
large wide-body aircraft, will come as larger numbers of Chinese
middle-class tourists travel overseas on long-haul flights,
Boeing said.
Separately, Tinseth said that Boeing is "working very hard" to
lobby the U.S. government on the future of EXIM, the U.S.
government's export credit agency, whose government charter
lapsed on June 30.
(Reporting By Fang Yan and Matthew Miller; Editing by Miral
Fahmy)
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