Boeing forecasts trillion dollar aviation market in China

Boeing (NYSE: BA), China´s provider of commercial airplanes, has released its annual China Current Market Outlook, projecting a demand for 6,810 new airplanes in the country over the next 20 years, the company said.

The company said the estimated total value of those new airplanes is USD1.025 trillion.

Boeing estimates China will need 5,110 new single-aisle airplanes through 2035, accounting for 75 percent of the total new deliveries. Low-cost carriers and full-service airlines have been adding airplanes and expanding new point-to-point services to cater for both leisure and business travel demand from a rising middle class in China and throughout Asia.