Randy Tinseth, vice president of Marketing at Boeing Commercial Airplanes, today presented Boeing's forecast for the commercial airplane market in China. Speaking to news media in Beijing, he noted that China will require 3,400 new airplanes worth about $340 billion over the next 20 years, as reflected in The Boeing Company's [NYSE: BA] updated annual forecast. The complete forecast, known as the Boeing Current Market Outlook, is available on the Boeing
"China will continue leading all domestic air travel markets with a long term passenger kilometer growth rate of 8.8 percent," said Tinseth. "Following the anticipated surge in passenger traffic for the 2008 Beijing Olympic Games, the China domestic market will grow nearly five-fold by 2026 to become slightly larger than today's intra-North American market."