BoeingIt is estimated that as demand for air travel surges, Chinese airlines will need 8,700 new aircraft by 2040, with a total value of 1.47 trillion US dollars, double the size of the country's commercial fleet.

According to Boeing's commercial market outlook report, China's demand for wide-body aircraft may account for 20% of global deliveries. Boeing said that by 2040, China's civil aviation industry will also need more than 400,000 new employees, including pilots, crew members and technicians.

“The rapid recovery in China's domestic passenger traffic during the pandemic illustrates the potential strength and resilience of the market,” Richard Wynne, managing director of Boeing Commercial Aircraft China marketing, said in a statement on Thursday.

“There are great opportunities to significantly increase international long-haul routes and air capacity,” he said. “In the long run, the growth of low-cost airlines is likely to be further based on single-channel demand.”

Boeing also predicts that by 2030, China's domestic passenger transport market will surpass the intra-European passenger transport market, and by 2040 it will surpass North America.