business

China on track to become world’s largest civil aviation market, Boeing forecasts

BEIJING, Nov. 13 (Xinhua) — China is still on track to become the world’s largest civil aviation market with strong growth despite the near-term challenges, said Boeing’s latest market forecast.

China’s airlines are expected to acquire 8,600 new airplanes valued at 1.4 trillion U.S. dollars over the next 20 years, said Boeing’s annual China market forecast.

It reflects an expected robust recovery of the Chinese market following the COVID-19 pandemic, said the forecast.

Boeing also forecasts that China’s market will generate demands on commercial aviation services valued at 1.7 trillion U.S. dollars and 750 new and converted freighters over the next 20 years.

China has achieved a remarkable recovery in the civil aviation sector with the government’s effective pandemic control and the resilient economy, according to Richard Wynne, managing director of China Marketing with Boeing Commercial Airplanes.

“While COVID-19 has severely impacted every passenger market worldwide, China’s fundamental growth drivers remain resilient and robust,” said Wynne.

Leading global air transport recovery, China’s civil aviation industry has achieved continuous progress in major indicators.

China maintained the world’s second-largest civil aviation market, with 660 million passenger trips in 2019, according to statistics from the Civil Aviation Administration of China (CAAC).

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