Boeing released its Current Market Outlook for China Thursday, projecting that by 2023 the country's air carriers will require nearly 2,300 new airplanes, making China the largest commercial aviation market outside the United States over the next 20 years.

The airplanes will cost approximately 183 billion US dollars, and will quadruple China's fleet to 2,801 airplanes by the end of the forecast period. Single-aisle aircraft such as the Boeing 737 will comprise the largest category, with 1,455 airplanes. There will be about 469 intermediate twin-aisles such as the Boeing 7E7 and 777s, 316 regional jets and 53 planes 747-size or larger.

Boeing projects air travel growth will outpace China's Gross Domestic Product increase during the forecast period. China's overall air traffic market is expected to increase 7.3 percent annually, led by the domestic market's forecast average annual growth of 8.1 percent.

The China to Europe market, expected to grow at 7.4 percent, will be the fastest growing of the China-related international markets. The China to Northeast Asia (Japan and South Korea) market will grow at 6.7 percent, while China to North America will increase 6.5 percent.Beijing, Shanghai, Guangzhou, Hong Kong and other large provincial cities are expected to increase nonstop flights to several major European and American cities. Boeing 7E7 and 777 size airplanes will provide most of these services.

Worldwide, Boeing projects that operators will invest 2.0 trillion US dollars for approximately 25,000 new commercial airplanes during the next 20 years.