China will need an estimated 8,800-plus planes over the next 20 years to meet rising demand for air travel, according to Boeing’s commercial- market outlook. About 60% of that demand would come from airlines expanding their fleets, while airlines replacing older jets with more fuel-efficient models would account for the rest.

Boeing is in advanced talks with China over a potential order for up to 500 aircraft, a deal that could revive its market presence after years of stalled sales.