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[January 23, 2014]
Bharat Book Bureau: Comprehensive Analysis on the Chinese Aviation Industry
(M2 PressWIRE Via Acquire Media NewsEdge) Jan 23, 2014 : Bharat Book Bureau presents the new report, on 'China Aviation Industry Opportunity Analysis' Aviation industry in China began way back in 1951 with some domestic travel and agricultural services being their primary goals. Greater growth happened much later in the mid seventies. The industry posted major growth in its revival phase between 1977 and 1996. After 1996, there was a general period of growth in the economy and this reflected in the volume of general aviation operations and services that have increased throughout China each year. It has shown double digit growth in aircraft numbers and in the number of flight hours since 2001 while consumer aviation has been growing at a rate of 21% since 1996.
In recent years China has emerged as dominant player in global aviation sector driven by supportive government policy framework. The extent of contribution from the aviation sector can be derived from the fact that from 2008 to 2013, the total throughput, passenger throughput and the cargo & mail throughput in China had respectively grown more than 15%, 16% and 13% year-on-year whereas the average global growth was around 5%-6% in all segments year-on-year.
China's civil aviation system is the second largest global aviation system after the US while the total transportation throughput and the passenger throughput of China's civil aviation is ranked fifth. The aviation growth seen in China is the highest growth in the world in this sector. In the global market, China is the second largest national air travel market and also the fastest growing. To meet the demand of the market, China buys more than 100 new passenger jets every year and this forms more than a tenth of the world's total demand. While this indicates a huge domestic market, the country is keen to develop and promote its local manufacturers of aircrafts.
It is expected that China would spend about a quarter of a trillion dollars in the next few years, to build the aerospace industries in the country. It is expected to be the biggest market for the aircraft giants Boeing and Airbus, even though the country has a strong focus on localizing manufacture of aircrafts. With more than two-thirds of the worldwide airports now under construction being in China now, the country has laid out ambitious plans and investment targets in the field.
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