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Boeing: China to need planes worth $1.47T by 2040

23 September 2021 11:35 (UTC +04:00)

The Boeing Co. estimated on Thursday that China's commercial airplane market will require 8,700 new planes by 2040 at a total value of around $1.47 trillion, with an annual passenger traffic growth of 5.4%, APA reports citing Teletrader.

The country will also need over 400,000 aviation personnel, the aerospace company predicted, adding it aims to employ more than 2,500 new workers.

"The rapid recovery of Chinese domestic traffic during the pandemic speaks to the market’s underlying strength and resilience," said Richard Wynne, managing director, China Marketing, Boeing Commercial Airplanes. "In addition, there are promising opportunities to significantly expand international long-haul routes and air freight capacity. Longer term, there is the potential for low-cost carrier growth to further build on single-aisle demand."