In a recent forecast, Boeing Co. predicts that China’s domestic air travel market will surpass the United States, becoming the largest in the world by 2043. The U.S. aircraft manufacturer projects that China’s commercial airplane fleet will more than double in size, driven by increasing demand.
According to Boeing’s latest Commercial Market Outlook, China’s commercial fleet is expected to expand at an annual rate of 4.1 percent over the next 20 years, reaching 9,740 aircraft by 2043. More than half of these new aircraft will be deployed to accommodate rising demand.
Boeing also projects that China’s annual passenger traffic will grow by 5.9 percent through 2043, outpacing the global average growth rate of 4.7 percent. This rapid growth is anticipated to establish China as the world’s leading market in terms of air passenger volume. The expansion of China’s air travel network, connecting major cities with smaller hubs, will further boost passenger traffic, Boeing stated in Beijing on Tuesday.
The report highlights that China’s air travel market is supported by solid fundamentals, including a current population of 1.4 billion and the expected rise to over 200 million middle-income families by 2043.
Related Topics:
6 Best Weekend Trips from Chicago
