China's aircraft fleet will more than triple in size by 2030, as a result of the country's fast economic growth, growing trade activity and increasing personal wealth, China Daily reported Thursday.

China will need 5,000 new commercial airplanes worth at $600 billion over the next 20 years, the English newspaper said, citing a report released Wednesday by the US aircraft manufacturer Boeing.

The company made the forecast after taking all factors affecting aviation into consideration, including high-speed railways, the newspaper quoted Tinseth, vice president of marketing at Boeing Commercial Airplanes, as saying.

Tinseth said high-speed rails will affect about 2 percent of China's domestic revenue passenger kilometers and it may also boost the country's economic development, which will benefit aviation.

Single-aisle airplanes are expected to increase to 3,550 in the next 20 years, due to fast development of the domestic market, Boeing said.

Air passenger travel increased 16.1 percent year-on-year in 2010 and the average annual growth was 14.1 percent during the 11th Five-Year Plan period (2006-2010), according to data from the Civil Aviation Administration of China.