China's COMAC says world will need nearly 40,000 new airliners in next 20 years

State-owned Commercial Aircraft Corporation of China on Tuesday forecast the global airline industry will need almost 40,000 new planes worth $5.23t over the next 20 years, with Chinese buyers taking almost a fifth of that. In a market outlook published at the country's biggest airshow in Zhuhai, southern China, the aircraft maker said it expected the industry to deliver 39,948 new planes over 2016-2035 on the back of 4.45% annual growth in revenue per kilometre flown by passengers, a standard industry measure. COMAC's forecast assumes the global economy maintains an average annual growth rate of 3%. The Chinese market - expected to see annual passenger traffic growth of 6.1% over 2016-2035 - will need 6,865 new aircraft worth $930b over the period, with passenger revenue from China to account for 18% of global revenue by 2035, COMAC said.<br/>