Chinese aircraft fleet to treble by 2030

Beijing, Sept 8(ANI): US aircraft manufacturer Boeing Co has predicted that China's aircraft fleet will treble by 2030 over a rising demand fuelled by sustained economic growth and increasing personal wealth.

The released outlook on China's commercial airplane market through 2030, said though China's high-speed railways and rising fuel costs could adversely affect the aviation industry, the country would need about 5000 airplanes worth 600 billion dollars over the next 20 years.

Boeing Commercial Airplanes' Marketing Vice President Randy Tinseth said about 84 percent of China's new aircraft would be required to keep pace with industrial growth, which would also create demand for about 70,000 pilots.

He said sustained economic growth, growing trade, increasing personal income and persistent market liberalization will play an important role in shaping China's air travel market.

Tinseth said high-speed railway growth would affect only about two percent of domestic revenue passenger kilometers (RPK) and boost the country's economic development, which would ultimately benefit the aviation industry.

According to Boeing, Chinese domestic market will still command 75 percent of the total RPK in the next 20 years, though Chinese fleet would also experience rapid international expansion.

Single-aisle airplanes would comprise bulk of the deliveries, reaching 3,550 in the next 20 years sue to boost to domestic market growth.

The competition will increase as more players including Bombardier Inc and Commercial Aircraft Corporation of China, Ltd (COMAC), enter the aviation market.

"The time of the Boeing and Airbus monopoly is over.But we believe every competitor can find their place in the business, since it is such a large market," Tinseth said.(ANI)