The Boeing Company revised its estimate of the number of new aircraft it expects Chinese airlines to buy between now and 2038. According to Reuters, in the next 20 years, Chinese airlines will spend about $1.2 trillion on around 7,690 new planes. The current prediction is about 6 percent higher than the previous forecast of only 7,240 planes.
“The growth in China can be attributed to the country’s growing middle class, which has more than tripled in the last 10 years and is expected to double again in the next 10,” said Boeing Commercial Airplanes’ vice president of marketing Randy Tinseth in a statement, according to Reuters.
“The future of commercial aviation in China is very exciting,” he added according to Yahoo Finance.
Boeing estimates that about 6,000 of the new aircraft orders would be for “single-aisle” planes, with the remainder being “wide body” units. Currently, China possesses about 15 percent of the entire global commercial aircraft fleet, but with new acquisitions, that number would rise closer to 18 percent by 2037.