Boeing: China will be fastest-growing commercial airplane market

In the coming 20 years, the world will invest 3.2 trillion USD in purchasing 29,400 new commercial aircraft. China alone will need 3,710 new planes, worth about 390 billion USD, making China the fastest-growing commercial airplane market in the world, according to the details of its Current Market Outlook (CMO) on the China region for 2008 released by Boeing on October 29.

The growth in China's air travel and air cargo market will cause China's air fleet to more than triple to 4,560 airplanes before 2027, almost the total number of airplanes currently in Europe. China's demand for new aircraft will account for 41% of the entire Asia-Pacific region, making China the largest market outside of the US for new commercial airplanes,& said Randy Tinseth, vice president of marketing, Boeing Commercial Airplanes.