Boeing: China Will Be First $1 Trillion Aviation Market

On Tuesday, the aviation giant said in its annual China Current Market Outlook, that it expects commercial airplane demand in China to hit 6,810 new planes over the next two decades, up 7.6% from its prior outlook. The planes are valued at $1.025 trillion.Boeing sees single-aisle demand accounting for 75% of new deliveries, hitting 5,110 through 2035 as low-cost carriers expand to meet demand from the rising middle class."As China transitions to a more consumer-based economy, aviation will play a key role in its economic development," Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes, said in a release. "Because travel and transportation are key services, we expect to see passenger traffic grow 6.4% annually in China over the next 20 years."Boeing shares fell 1.1% to 128.76 at the close on the stock market today. Shares are consolidating in a flat base with a buy point of 139.55. European rival Airbus (EADSY) dropped 2.5% to 15.04
Source: Boeing 20/09/2016