Report: China to buy more than 1,900 planes by 2020
BEIJING: China will buy more than 1,900 aircraft by 2020 as the country’s booming economy transforms it into the world’s third biggest aviation market, the China Daily reported yesterday.
In a separate forecast, US aviation giant Boeing Co said China would need 2,400 new jet aircraft worth US$197bil over the next 20 years. China, which now ranks as the 6th biggest aviation market by passenger and cargo turnover, would need 1,960 planes for domestic routes and 440 new aircraft for overseas flights, Boeing said on its website.
Chinese air travel would grow 7.1% a year from now until 2022, compared with a world average of 5.1%, the aircraft maker added.
China was on track to become the third biggest market in terms of passenger and cargo turnover by 2020, the China Daily said.
“The huge demand for airplanes of various models will create a huge market potential for both domestic and foreign aircraft manufacturers,” it quoted Zhang Yunchuan, Minister of the State Commission of Science, Technology and Industry for National Defence, as saying. – Reuters
biz.thestar.com.my |
