Domestic air travel in China is getting a boom. Increase in Government spendings on infrastructure and increasing wealth of the nation, are the reasons to which increase in air travel is attributed. As a result Boeing expects to maintain its market share of more than 50% in China. It is expected that China's fleet of aircrafts will be three times in the next two decades.
The demand for air travel will require around 5000 new commercial aircrafts valued at $600 billion dollars, over the 20 years. Boeing's long standing relationship with China is expected to hold the company in good stead as it eyes a sizeable chunk of this demand. Consequently its stock prices are expected to rise.
As air travel in China surged ahead by more than 15% over last year, it surpassed the North American air travel market within the region of Asia Pacific, and Boeing sees China's share in the Asia Pacific region for air travel accounting for 40% in the next two decades.