Boeing has forecast China's commercial airplane market to grow over the next 20 years to a value of nearly US$1.5 trillion.
The Seattle based aircraft manufacturer said as many as 8700 new planes will be needed as airlines' commercial fleets are expected to double by 2040.
Boeing shared the China forecast as part of the 2021 Commercial Market Outlook (CMO), the company's long-term forecast of demand for commercial airplanes and services.
By 2030, China's domestic passenger market will exceed intra-European traffic; by 2040, China's domestic traffic is expected to also exceed air travel within North America.
The CMO also forecasts that China's civil aviation industry will require more than 400,000 new aviation personnel by 2040, including pilots, technicians and cabin crew.
Boeing says its commitment to China involves investing in people who will power the future of aviation, such as training nearly 100,000 Chinese aviation professionals and employing more than 2500 Boeing employees across its businesses, training, supply chain and other activities.
"The rapid recovery of Chinese domestic traffic during the pandemic speaks to the market's underlying strength and resilience," Richard Wynne, the managing director of marketing Boeing commercial airplanes in China, said.