China will need over 7,400 new passenger aircraft and freighters from 2018 to 2037, with a total market value of US $1,060 billion, according to Airbus’ latest China Market Forecast.
- China represents more than 19 percent of the world total demand for over 37,400 new aircraft in the next 20 years.
- In the Small segment (single-aisle aircraft), there is a requirement for 6,180 new aircraft.
- In the Medium segment (smaller widebodies and longer-range single-aisle aircraft) Airbus forecasts demand for 870 passenger and freight aircraft.
- In the Large segment there is a need for 240 aircraft.
- In the Extra-Large segment Airbus forecasts demand for 130 aircraft.
- According to Christian Scherer, Airbus Chief Commercial Officer, China is one of the most powerful growth engines of global air transport.
- By 2037 the propensity for the Chinese population to fly will more than triple from 0.4 trips per capita today to 1.4.
- Private consumption from a growing middle class (550 million people today to 1.15 billion by 2037) is expected to be the main driver of future air traffic growth.