Proactive Investors - The Boeing Company (NYSE:BA) has reiterated its bullish stance on the Chinese aviation sector, as the manufacturing giant lifted demand outlook for the country.
Anticipating China would account for one in five aircraft deliveries over the next 20 years, Boeing tipped airlines in the country would need 8,560 new jets come 2042, up from a previously forecast 8,485.
Many of these will be narrow-body jets, the planemaker added, as China’s domestic market regains traction following the pandemic.
"Domestic air traffic in China has already surpassed pre-pandemic levels and international traffic is recovering steadily," Boeing market vice president Darren Hulst said.
"As China's economy and traffic continue to grow, Boeing’s complete line-up of commercial jets will play a key role in helping meet that growth sustainably and economically."
Some 1,550 wide-body jets will be needed meanwhile, with the Chinese aviation sector tipped to generate around demand worth around $675 billion.