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Boeing Co. raised its 20-year forecast for aircraft demand in China as economic growth and an expanding middle class spur travel in the world’s most-populous nation.
Boeing Co. raised its 20-year forecast for aircraft demand in China as economic growth and an expanding middle class spur travel in the world’s most-populous nation.
China will need 7,240 new planes valued at almost $1.1 trillion in the two decades through 2036, Boeing said Wednesday. That compares with its projections last September for 6,810 aircraft through 2035.
The upward revision for China comes despite rising trade tensions between the Asian nation and the U.S. and a volatile geopolitical environment in the Korean peninsula. China is “a critical market,” where long-term economic growth, a recovering air-cargo market and the expansion of Chinese airlines support a more optimistic forecast this year, according to Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes.
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