Boeing’s Asia business seems to be flying high.
The Chicago-based aerospace company announced today that it expects to sell 6,020 airplanes in China over the next 20 years, a sale which would bring in $870 billion.
Chinese airliners represent 45% of the Asia-Pacific air industry, according to Boeing’s Chinese Current Market Outlook, released today. The projected orders for China represent around 16% of Boeing’s expected 36,770 new plan deliveries worldwide between now and 2033.
The majority of the planes Boeing (BA) expects to deliver are in China are single-aisle planes seating between 90 an 230 people.
In addition to announcing these numbers for the future, Boeing also got good news in the form of finding out it is still outpacing European rival airbus. According to Reuters Airbus had 722 net orders for the first eight months of the year, compared with 918 for Boeing. Net orders incorporate cancelled orders into the final number.
It’s been a positive year for Boeing. Last month they got an $8.8 billion order from leasing company BOC Aviation for 82 planes. In July, a strong second quarter earnings report put them 22% above analysts expectations, leading the company to raise its annual expectation.
