BEIJING - Hello from China where I’ve just unveiled the Current Market Outlook for this rapidly expanding nation. Over the next 20 years, we’re forecasting that China will need 5,260 new airplanes with a price tag of $670 billion. Incredibly, more than 75 percent of the demand will come for growth instead of replacement.
One of the main drivers of this growth is the fact that more people in China are traveling outside the country. That’s why it is not surprising to see how successful to 777 has been in this market. And the 787 Dreamliners for China Southern will be key in the airline’s international routes.
Here’s me and the team in China.
Tourism within China will also help fuel a strong demand for single-aisle aircraft. The 737 MAX is perfectly positioned for these in-country trips since it will be the most fuel-efficient, capable airplane with the lowest operating costs in the single-aisle segment.
I’d also like to take a moment to thank our customers and partners in China as we celebrate 40 great years of working together. Way back in 1973, the first Boeing jet—a 707—was delivered to China. Since then, we’ve built our supplier base in China and launched joint ventures to benefit the entire aviation industry. China has been and will continue to be the most dynamic aviation market and we look forward to providing our customers there the best products to keep them successful.
It has been a while since I included a photo for you foodies. So I’ll close with this image of steamed seafood dumplings I enjoyed this week.