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San Francisco (CNS) -- The world's two largest airplane makers, Boeing and Airbus, recently announced plans to expand passenger plane production into the newly-emerging markets of China and India.
US-based Boeing said Tuesday it would manufacture 34,000 passenger planes in the next 20 years, with a total value of US$4.5 trillion.
A day earlier, France's Airbus announced a fund of US$600 million for the construction of a new A320 assembly plant in Mobile, Alabama, expected to deliver products from 2016.
Boeing and Airbus evenly share the global airline market with about 20,000 planes, estimated Boeing, a figure that is likely to double by 2031.
China's airline market has much potential because of its prosperous economy, said Randy Tinseth, vice president for marketing at Boeing's commercial aircraft division.
China will need 4,400 new aircraft in the coming two decades, accounting for 14 percent of the global sum, according to estimates. Demand by the Asia Pacific region will grow by 12,030, followed by 7,760 in Europe and 7,290 in North America.
Airline companies with low operation costs are the market choice in both China and Asia Pacific countries, Tinseth said.
The Boeing 737 and the Airbus A320, both single-aisle types with 90 to 200 seats, are favorites globally. 737s account for more than 23,000 of Boeing's entire production plan.
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