Boeing CEO, John Smith, expressed optimism that China will resume purchasing workhorse jets such as the company's 737 MAX to meet the rapidly growing demand in a market currently experiencing an "explosion" in sales. This comes at a time when aircraft factories worldwide are struggling to keep up with increasing demands.
In a recent press conference, Smith stated: "We have been working closely with Chinese authorities and airlines to ensure the safety of our aircraft and regain their trust. With the continued growth of air travel in China, we believe there is significant potential for us to reestablish ourselves as key players within this booming market."
Deliveries of Boeing's 737 MAX dropped by more than half from March to April due primarily to lingering concerns surrounding two fatal crashes that occurred between October 2018 and March 2019. In response, aviation regulators grounded the model until November last year after fixes were made.
Despite these setbacks, industry experts forecast strong growth within China's commercial aviation sector over the next twenty years. According to Jane Brown, Senior Analyst at Skyward Aviation Insights:
To capitalize on this opportunity and secure future orders from Chinese customers looking for fuel-efficient workhorse jets capable of servicing high-density routes across Asia-Pacific region economies like India and Indonesia; Boeing has doubled down on its efforts towards improving safety measures related specifically around its popular but troubled airplane model - The Max.
The planemaker has implemented several changes since grounding including updating flight control software responsible largely causing Lion Air Flight JT610 Ethiopian Airlines ET302 crash into Java Sea Addis Ababa Bole International Airport respectively, as well as conducting thorough reviews of its design and production processes from top to bottom. These efforts have been met with approval from various global aviation regulators.
In an interview with a Boeing executive who wished to remain anonymous said:
With China's commercial aviation market expected to grow exponentially over the next twenty years, there is no denying that securing orders from Chinese customers could prove invaluable for Boeing. As their factories work tirelessly to keep pace with demand, it remains to be seen whether or not these renewed efforts can help them regain lost ground within this burgeoning market segment.