AVIC Forecasts China Will Need 5,522 New Aircraft over Next 20 Years

China will need 5,522 new commercial aircraft in the next 20 years between 2015 and 2034, the Aviation Industry Corporation of China (AVIC) projected Wednesday at the Aviation Expo China 2015.

China's air transport market kept a steady and fast growth in 2014. The turnover rose 11.4 percent year on year to 74.81 billion tonne-kilometers, making China the second largest air travel market in the world. Passenger numbers increased 10.7 percent to 390 million and cargo volume rose 5.9 percent to 5.94 million tonnes.

China continued to expand its commercial aircraft fleet in 2014, with up to 2,370 commercial aircraft by the end of 2014, including 2,259 passenger aircraft and 111 freighters.

Some new trends were emerging in China's civil aviation development. For example, the growth rate of international routes was faster than domestic routes, and the air travel market developed faster in west China than in east China. Meanwhile, budget airlines are increasing their market shares.

AVIC projected that China will maintain a growth momentum in the civil aviation sector over the next 20 years, with passenger and cargo traffic expected to increase 7.4 percent and 9 percent annually.

By 2034, the passenger fleet will reach 6,360 aircraft, including 5,378 jumbo jets and 982 regional aircraft. The freighter fleet will reach 708 aircraft. China will need 5,522 new commercial aircraft between 2015 and 2034, including 4,590 jumbo jets and 942 regional aircraft.