CMO for China

has released its 2008 Current Market Outlook (CMO) for the

region, forecasting a market for 3,710 new airplanes worth about $390bn (£241bn) over the next 20 years.

According to Boeing, China air travel and air cargo market growth will cause China's fleet to more than triple to 4,560 airplanes by 2027.

Single-aisle airplanes will account for 70 per cent of the new purchases with 2,600 new airplane deliveries. Demand for intermediate twin-aisles will result in approximately 780 airplane deliveries. When combined, the single-aisle and intermediate twin-aisle market will make up 91 per cent of China's total deliveries.

Demand will include a limited number of long-haul aircraft to connect China with other major world destinations. The market forecast calls for about 100 airplanes in that category.

With China's cargo markets leading the global industry, Chinese air carriers will add about 370 freighter airplanes by 2027, quadrupling its total freighter fleet size.

Worldwide, Boeing projects investments of $3.2tn for 29,400 new commercial airplanes to be delivered during the next 20 years.

The complete forecast is available from Boeing by clicking here.