Boeing Expecting China Aircraft Demand to Rise Despite Struggling Market

Boeing expects China's aircraft demand to increase for the next 20 years, despite the current aviation market struggle caused by the COVID-19 pandemic, which promises negative global delivery news for the next few years. 

According to the company, Chinese airlines will need 8,600 new airplanes through 2039, as opposed to Boeing's last year forecast of 8,090 planes. This amount of aircrafts will be worth $1.4 trillion.

"While COVID-19 has severely impacted every passenger market worldwide, China's fundamental growth drivers remain resilient and robust. Not only has China's recovery from COVID-19 outpaced the rest of the world, but also continued government investments toward improving and expanding its transportation infrastructure, large regional traffic flows, and a flourishing domestic market mean this region of the world will thrive", Richard Wynne, managing director, China Marketing, Boeing Commercial Airplanes, comments.

Indeed, despite Chinese airlines pushing back deliveries in response to decreased international travel, China's domestic aviation market has already rebounded to pre-COVID levels.

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