Boeing declares its “full confidence” in China market; lowers forecast for new aircraft deliveries

October 28th 2022

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Boeing vice president for commercial sales and marketing for Greater China, Peter Gao, said China will remain a significant market for aircraft despite current challenges. Read More » “We have full confidence China’s commercial aviation market will continue to prosper, despite recent economic headwinds,” Gao said. “China’s economic fundamentals will continue to fuel significant demand for both passenger and cargo fleets.” Despite Boeing’s confidence, the OEM has lowered its forecast for new aircraft deliveries to Mainland customers in the next two decades. The 2022 Boeing Current Market Outlook (CMO) estimates China will need 8,485 new commercial aircraft to meet air travel demand to 2041, lower than the 8,700 aircraft forecast in the 2021 CMO. The fleets of China-based airlines are calculated to more than double to 6,750 aircraft in 20 years from 3,050 today. To fly and maintain the expanded collective fleet to 2041, China will need 126,000 new pilots, 124,000 more technicians and an additional 162,000 cabin crew, the CMO said. This year marks the 50th anniversary of Boeing in China.