Boeing says China needs 400 new freight planes by 2030
China is one of the world’s fastest growing economies, and in order to keep up its economic explosion, the country will need plenty of logistics pieces over the next several years.
China already leads the world in cargo growth, according to Boeing, but the company now estimates that air cargo traffic in the Asian nation will grow so quickly that China will need 400 new freight planes by 2030.
According to Boeing, jumbo-sized freighters like the Boeing 747-8F and 777F will be in the most demand. China is expected to take advantage of its forecasted logistics growth on its long-haul routes, according to Boeing Commercial Airplanes Vice President of Marketing Randy Tinseth.
“Sustained strong economic growth, growing trade activities, increasing personal wealth and income, as well as continues market liberalization will be the driving forces in shaping China’s air travel market,” Tinseth said in a statement.
“We expect China will be the second largest country taking new commercial airplane deliveries due to its air travel demand growing at an annual rate of 7.6 percent on average.”
SEE OTHER TOP AIR FREIGHT STORIES IN THE SUPPLY CHAIN DIGITAL CONTENT NETWORK
In addition to its need for 400 new freighters by 2030, one Boeing spokesman noted that the country will need 5,000 new commercial planes in the same time. Boeing officials are anticipating that the highest demand will come from its small- and medium-sized commercial aircraft, like its 777 series, which could account for more than 40 percent of future aircraft deliveries to China.
All told, the aircraft are valued at $600 billion, which should keep Boeing and Airbus busy for the next two decades.