China’s Aviation Market Grows as Demands Increase
According to a report released by a airplane manufacturer, Chinese Airlines will be placing an order for more than 4,000 large passenger airplanes in the next twenty years. And according to the Commercial Aircraft Corporation of China, the Chinese aviation market is expected to order around 4,960 aircraft in the span of two decades which will include small to large sized planes.
The corporation is also expecting the global air passenger turnover will continue to grow at a rate of 4.9 percent from 2012 to 2031. Furthermore during an aviation exhibition, Embraer a Brazilian aircraft manufacturer is also confident on the Chinese market and predicted that the aviation market in china will be responsible for at least 15 percent of the growth in world deliveries of 120 seater jets also in the next 20 years.
And by the year 2022, Embraer predicted that the total demand for business airplanes will reach 650 with a total value of US$ 24 billion or 9 percent of the global deliveries. A the growing demand for connectivity for second tiered cities is being fostered by the vibrant economy of china along with its growing middle class.