China will need 3,400 new airplanes by 2026: Boeing

BEIJING - China, the world's fastest growing aviation market, will need 3,400 new airplanes worth about US$340 billion over the next 20 years, US aircraft maker Boeing said on Tuesday.

The forecast marks a dramatic increase from an earlier prediction by Boeing of 2,900 aircraft in the period from 2005 to 2025.

Strong growth in both passenger and cargo transport will nearly quadruple China's fleet to 4,460 planes by the end of 2026, making it the largest market outside the United States for new commercial aircraft, it said.

Following the anticipated surge in passenger traffic for the 2008 Beijing Olympic Games, China's domestic market will grow nearly five-fold by 2026 to become slightly larger than today's intra-North American market, it added.

Air travel growth between China and North America as well as between China and Europe will more than double in size during the next 20 years, and the number of cities linked by air routes will more than triple, the company said in a statement.

Worldwide, Boeing projects investments of US$2.8 trillion for 28,600 new commercial airplanes to be delivered during the next 20 years.
The US aviation giant currently enjoys about 60 per cent of China's market, but is in close competition with Europe's Airbus, which is setting up an assembly line factory for A320 aircraft in the northern city of Tianjin to better tap the market.

Under the preliminary plan, 206 additional flights will be added to existing routes connecting China with Europe and the US, the General Administration of Civil Aviation said.

The routes should boost the development of international transport amid the introduction of wide-body aircraft - the Boeing B787 and Airbus A380 - into Chinese carriers, state media said.