Toulouse: Mainland China will require more than 3,000 passenger aircraft and freighters in the period 2007 to 2025 on the back of robust economic growth, a more liberalized market and more outbound travelers, says Airbus in a report released yesterday.
Growth will be further aided by expansion in the country's air cargo market, which is expected to expand six-fold during the period, according to the report.
In a separate market report on China's aviation market, a first from the European manufacturer, Airbus says that China would require 2,650 passenger planes worth US$289 billion over the next two decades. According to the report, the number of passenger aircraft is likely to triple to 2,700 in 2025 on the mainland, up from 760 at the end of 2005.
The report also projects the need for nearly 400 freighters over and above that number, as the country's cargo market expected to expand six-fold during the period. According to the Toulouse, France based aircraft manufacturer, the freight market is expected to grow 10.9 per cent annually in the next two decades, overtaking the global average of 8.9 per cent.
As per the projections made by the report, the planes needed would include 2,050 single-aisle jets, 600 short-range twin-aisle aircraft, more than 200 intermediate-range twin-aisle aircraft and 180 very large planes.
According to Airbus officials, the company has a share of 35 per cent of the Chinese mainland market, which is up from seven per cent in 1995. They also said that China needs more than 110 superjumbos like the A380 aircraft in the next 10 years.
As of last year, Airbus has won 159 new orders in China, out of its total global orders of 824.