All leading global aviation companies flocked to Zhuahi Airshow in China to display their products as economic development and an expanding middle class promise a bonanza in one of the world’s fastest-growing aircraft markets.
To gain traction and show off indigenous capability of developing hi-tech aviation wares, Chinese defense companies and the People’s Liberation Army’s air force (PLAAF) are also putting on display their the latest weaponry at the airshow this week. Two aircraft received quite attention, the new J-31 stealth fighter and the Y-20 being biggest-ever military transport plane.
The airshow is of vital importance for foreign companies. It offers a chance to explore and tap a market in which air travel grew by an annual 11 per cent last year touching 350 million passengers. China has certainly become a lucrative market. Big companies like France’s Airbus and the US based Boeing are considering it a gold mine.
In a conference, Airbus China President and Chief Executive Officer Eric Chen told that China would become the world’s number one aviation market.
Few days before the airshow, Airbus confirmed a $10 billion (Dh36.7 billion) deal for China Aircraft Leasing Company to purchase about 100 planes from its A320 family.
A380 Superjumbo is world’s largest commercial plane. Crowds gathered to take photos with this double-decker at the show.
Chinese deliveries represent 25 per cent of global production of Airbus.
On the other hand, the US based Boeing forecasts China will need a total 6,020 new airplanes and it will generate business activity of $870 billion over the next 20 years.
Boeing also announced that China’s Avic would produce tips for the vertical fin and horizontal stabiliser of its 777 – a long-haul aircraft.
Source: Gulf News