Boeing: China's annual air traffic to increase 7.6 percent in two decades

The air traffic is expected to increase by 7.6 percent in China and by 6.8 percent in the Asia Pacific region in the next two decades, both exceeding the world average growth rate of around 5 percent, said Randy Tinseth, vice president of marketing for Boeing Commercial Airlines at the Asian Aerospace International Expo and Congress 2011, which was held in Hong Kong on March 8.

He noted that air traffic demand in the Asia Pacific region is driven mainly by the strong increase in the share of the region’s tourism demand in the global market, which is likely to grow to 44 percent in 20 years from the current 34 percent. At present, the Asia Pacific region is ordering more than 10,000 new planes, accounting for one-third of the world’s total orders.Tinseth said that rising passenger and cargo traffic is creating more demand for airplanes. The number of passenger jets and freighters will double from 18,890 to 36,300 by 2030.

Tinseth noted that single-aisle passenger planes will grow the fastest and enjoy the highest demand in the aviation market. That, he said, will be driven by the economic growth of developing and emerging markets, growing demand for budget planes as well as replacements of old aircraft.

Source = peopledaily.com.cn