Thriving Chinese economic development has brought huge demand for the aviation
Recent years have seen thriving Chinese economic development which has brought with huge demand for the aviation business. As a result, business aviation, private aviation, emergency, industrial aviation and agricultural and forestry aviation are expected to embrace for substantial growth potential. The implementation of new measures for the administration of general aviation, coupled with loosened access to the general aviation market drives the general aviation an investment appeal. In 2001, China general aviation industry geared up for development, with the business volume by 2012 breaking 500,000 hours.
China general aviation industry lags far behind the developed countries, albeit vigorous growth in recent years. Take America for example, when its GDP hit USD1 trillion, its helicopters for civil use amounted to more than 8,000 ones, as opposed to China’s 80 when it developed at the same level.
By 2020, China’s demand for utility aircrafts will hit 10,000 ones, of which, 6,000 will be piston-powered ones, 2,000 turboprop-powered, 500 business jet aircrafts, 1,000 helicopters, and 500 others, with the targeted market size claiming RMB150 billion; provided the industrial driving ratio of 1:10, the output scale of the entire general aviation industry is expected to reach RMB1.5 trillion, according to the estimation from CAST, Chinese Society of Aeronautics and Astronautics, and China General Aviation Association.
Fonte: RR Market Research (28/07/2014)