Commercial Airplanes’ marketing vice president Yan Saisi, at the China Civil Aviation Development Forum said China, the world’s most dynamic aviation market, will need to spend $390 billion to buy 3,700 new aircraft in the next 20 years.
Saisi said China will need Boeing 747 aircraft, dual tunnel aircraft, single tunnel aircraft and liner aircraft.
Domestic airlines in China currently have 1,330 aircraft, and will see the number rise to 4,560 by 2027.
Moreover, it is predicted that the annual growth rate of the aviation industry in China will hit 7.9%, exceeding the 5% growth rate in the global market, according to the report.
China Newswires said that official figures from the country’s aviation authorities showed that, during the period from 2000 to 2008, China’s aviation market doubled in size and that the number of jumbo jets in China also doubled.