A senior Boeing (BA.NYSE) executive said that his firm anticipates China will require about 5,000 commercial aircraft worth US$600 billion over the next 20 years, up 25% from the company’s previous forecast, Reuters reported. Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes, said that a significant portion of the demand will be for small- and medium-sized jets. He said that the company expects to maintain its current 52% market share in China. Tinseth also said that Boeing is planning to deliver 485-495 commercial airplanes to China this year. The company had estimated just last November that China would need 4,330 planes worth US$480 billion over the next two decades. Domestic passenger traffic is growing quickly in China, and the firm is betting that the country’s rising wealth and rapid infrastructure upgrades will fuel commercial aviation growth.