|By Tim Watson||
|September 13, 2013 05:01 PM EDT||
A new forecast from Boeing predicts China will acquire 5,580 new planes valued at $780 billion during the next 20 years.
The annual China Current Market Outlook report cites intra-Asian travel as a major factor in the projected growth for single-aisle platforms, Boeing said Thursday.
According to the report, airline traffic to and from China is projected to increase an average of 7.2 percent annually.
"To compete in the long-haul international market, our Chinese customers are focused on growing their international networks, increasing their capacity and building resources," said Randy Tinseth, vice president of marketing for Boeing commercial airplanes.
Boeing's 737 and 737 MAX aircraft are intended to address fuel efficiency, maintenance cost and environmental performance issues, Tinseth added.
The firm expects long-haul segment growth to drive demand for the widebody class of 787 Dreamliner, 777 and 747-8 Intercontinental aircraft.
Globally, the company forecasts $4.8 trillion investments in more than 35,000 commercial planes over the next decade.