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| Airbus Predicts Solid Growth |
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The nation will need more than 3,000 passenger and freight aircraft between 2006 and 2025, according to a Chinese market report released by Airbus yesterday. The report is the first for the Chinese market issued by the international aircraft manufacturer. Airbus attributed the increase to China's economic growth, burgeoning individual wealth, an inbound and outbound tourism boom, and increasing exports of high-value manufacturing goods. And the company said it would benefit from the aviation trend, predicting its market share would make impressive strides in the coming years. Airbus said China would need 2,050 single-aisle aircraft, almost 600 small twin-aisle aircraft, more than 200 intermediate twin-aisle aircraft and 180 large aircraft. It said China's passenger aircraft requirements would triple in the next 20 years, rising from 760 at the end of 2005 to 2,650 in 2025, thanks to booming inbound and outbound tourism. "In the next 20 years, China will become the second-largest market in terms of demand for passenger aircraft, after the United States. And in the next 10 years, China will have 650 million consumers taking flights," said John Leahy, chief operating officer for customers at Airbus. Freight aircraft are expected to climb to around 400 over the next two decades, as the nation's demand for freight grows sixfold and remains at a high level, with an average growth rate of around 10.9 and 8.9 percent in domestic and international markets respectively. Airbus is now a major aircraft provider in China, second to Boeing in market share, but surpassing its arch-rival in winning new aircraft orders in the past two years. "Airbus' market share in China has increased to 35 percent from 7 percent in 1995, and our aim is to reach 50 percent in 2011," said Leahy. Laurent Rouaud, Airbus vice-president, market forecasts and research, said the company would probably reach the target sooner, by 2010. Airbus has seen sustained growth in the Chinese market. In 2005, the company delivered 56 new Airbus aircraft in China, accounting for 15 percent of its worldwide deliveries. In 2006, it saw further growth, with total deliveries of 76 new aircraft 18 percent of worldwide deliveries. (China Daily February 15, 2007) |
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