Boeing raises 20-year forecast for China aircraft demand despite pandemic

BEIJING/SYDNEY (Reuters) – Boeing Co on Thursday raised its rolling forecast for China’s aircraft demand for the next 20 years, making the country a bright spot in the aviation market even as COVID-19 decimates global deliveries over the next few years.

Chinese airlines will need 8,600 new airplanes through 2039, 6.3% higher than Boeing’s previous prediction of 8,090 planes last year. Those would be worth $1.4 trillion based on list prices, the U.S. planemaker said in a statement.

In October, Boeing cut its 20-year forecast for global airplane demand due to the COVID-19 pandemic.

“While COVID-19 has severely impacted every passenger market worldwide, China’s fundamental growth drivers remain resilient and robust,” said Richard Wynne, managing director, China Marketing, Boeing Commercial Airplanes.