Thursday, Sept. 5, 2013
Boeing Co. says it expects China's airlines to triple the size of their fleets over the next two decades, driven by strong economic growth and rising tourism spending.
In an annual sales forecast, Boeing said Thursday that purchases by Chinese carriers should grow by 7 percent a year through to 2032. It said China should account for one-sixth percent of global sales.
Seattle-based Boeing said it expects Chinese carriers to buy 5,580 planes for $780 billion.
Boeing and European rival Airbus Industries, a unit of European Aeronautic Defense and Space Co., are looking to China's growing market to drive sales.