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China will spend $5.3 trillion to buy 35,000 jet fleets

Tinuku ~ China is projected to become the largest domestic aviation market in the world. China will spend up to US$5.3 trillion to buy over 35,000 new commercial aircraft over the next 20 years. The growth of the world's future aviation market is driven primarily by growth in Asia Pacific.

Tinuku China will spend $5.3 trillion to buy 35,000 jet fleets

"Asia Pacific continues to be a growth driver with China's domestic market going to be the largest market in the world," said John Leahy, CEO of Customers of Commercial Aircraft Airbus, Monday, June 12, 2017.

Air travel is very resistant to external shocks and needs doubled every 15 years. Revenue is ready to be spent increasingly and in developing countries has the number of people who make flights will increase almost threefold by 2036.

Airbus estimates the world's passenger aircraft fleet above 100 seats will more than double in the next two decades to more than 40,000 aircraft and air transport traffic is expected to grow 4.4 percent annually.

The population of 6.4 billion is a large market of developing countries including China, India, throughout Asia and South America is estimated to cover half of the commercial aviation market in 2036.

"The double increase in commercial fleets over the next 20 years is predicted to require 530,000 new pilots and 550,000 new maintenance engineers," Leahy said.

Last April China launched the COMAC C919 which will be produced over 6,500 units up to 20 years into the future as part of the country's efforts to meet fleet needs. While Boeing is also designing a new type to fill the gap between 737 and 787 Dreamliner.
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