The enthusiasm of China’s aviation is not just a matter of national pride for Chinese but, the country is eager to stir up its manufacturing value chain. China aviation market is forecasted to be more than USD 150 Billion by 2020. In the current scenario, China is becoming the largest single market of aviation because of demand for new aircraft by Chinese airlines eager to meet the rising middle classes’ expectation for air travel. In the past China, has been buying airplanes from Boeing and Airbus, but recently its state-owned Commercial Aircraft Corporation of China (COMAC) is also willing to supply planes. This thing has put the Airbus and Boeing in an awkward position as one of their main customer (China) now wants to become their major rivals.
In China’s growth plans, Aerospace has been identified as a high-priority sector. With the government support, China has the ability to develop a viable aircraft industry, and become a major player in the aviation sector which is currently being held by the United States and Europe.
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China is the Second Largest Domestic Aviation Market Globally
The Chinese government is eager to make more of the refined systems which were currently bought from Western countries for its aircraft i.e. engines and avionics. China has set up a state-owned engine maker to make engines for COMAC’s future programmes.
China’s passenger traffic growth rate is rising year by year. China is likely to take over the number one spot in the coming years and most probably it will drive civil aircraft sales for the next 20 years. In addition, in the past travel has been limited within the borders because of the visa policy. In the current scenario, visa policy has been relaxed; therefore, several Chinese populations are projected to travel around the world.
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China Aerospace Market deals with Other Nations & Market Overview
In the current scenario, the countries of Western suppliers perceive the growth of Chinese aviation as an advantage. If the state-owned Commercial Aircraft Corporation of China (COMAC) produces aircrafts, an American engineering group,” Honeywell” would make more money from supplying it with parts. A joint venture between General Electric and Safran of the France stands to earn the price of its sales of engines the group called “CFM International”. Moreover, either Airbus or Boeing sees COMAC as much of a threat to their sales outside China.
In the report, China aviation market is segmented into China Civil Aviation Market and China Defense Aviation Market and Satellites Launch. China Civil Aviation Market is further categorized into Cargo, Passenger, Corporate, Jets, and in China Defense Aviation Market- Combat Special Mission helicopters, Transport and Satellite Launch and Training. According to Renub Research, one could study the analysis of prominent growth in Civil Aviation, Defense Aviation as well as Satellites Launch.
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