Boeing and European rival Airbus Industries are looking to China to drive sales as growth in demand cools elsewhere. China's economic growth fell to a two-decade low of 7.5 percent in the latest quarter, but that still was well above forecasts for the United States and Europe.
Purchases by Chinese carriers should rise 7 percent a year through to 2032, totaling 5,580 planes worth $780 billion, Boeing said. The figures come from the company's annual market outlook released earlier this summer. The company said that China should account for one-sixth of global sales.
The outlook represents an increase over last year's 20-year forecast of sales of 5,260 new airplanes valued at $670 million in 2012-2031.
"Tourism in China and intra-Asia travel will help spur a strong demand for single-aisle airplanes," the Chicago-based aircraft manufacturer said in a statement.
It said sales of wide-body planes should be driven by growth in long-haul traffic to and from China.
MORE HBJ HEADLINES
Crucial Boeing tanker 1st flight follows China leader's visit VW chief under fire after emissions scandal and stock slide Everett attorney helps businesses navigate immigration issues Chicago firm purchases Mountlake Terrace apartments Briefs: Marketing Solutions president named finalist for teaching award Don’t make these Social Security mistakes
Our new comment system is not supported in IE 7. Please upgrade your browser here.