China, the world's fastest-growing aviation market, will buy nearly 2,900 new airplanes worth $280 billion between now and 2025, Boeing said Oct. 25.
Boosted by a rapid increase in outbound travel by the increasingly affluent Chinese, this will lead to more than a tripling of the nation's total civilian aircraft fleet to 3,900, according to the company.
Boeing currently enjoys about 60% of China's market, and expects that figure to remain stable, banking on twin-aisle aircraft such as the 787 Dreamliner and the 777.
"It is really the 787 -- and the efficiencies of the 787 and 777 -- that will give more than 50 % market share and that's probably good going out for maybe eight to 10 years." Boeing vice president for marketing Randolph Baseler said.
Boeing also said that it began work on an $85 million maintenance facility with partners Shanghai Airport Authority and Shanghai Airlines at Pudong International airport in Shanghai. Boeing holds 60% of the venture, while Shanghai Airlines has 15% and Shanghai Airport Authority holds 25%.
Copyright Agence France-Presse, 2006