China will need over 7,400 new passenger aircraft and freighters from 2018 to 2037 with a total market value of $1,060 billion, according to Airbus’ latest China Market Forecast.
The French aircraft manufacturer said this represents more than 19 per cent of the world total demand for over 37,400 new aircraft in the next 20 years.
According to Airbus’ 2018-2037 Global Market Forecast, new deliveries of passenger and freighter aircraft for China will be more than 7,400 over the next 20 years, in the ‘Small’ segment typically covering the space where most of today’s single-aisle aircraft compete, there is a requirement for 6,180 new aircraft.
In the ‘Medium’ segment, for missions requiring additional capacity and range flexibility, represented by smaller widebodies and longer-range single-aisle aircraft, Airbus forecasts demand for 870 passenger and freight aircraft.
For additional capacity and range flexibility, in the ‘Large’ segment where most A350s are present today, there is a need for 240 aircraft. In the ‘Extra-Large’ segment, typically reflecting high capacity and long range missions by the largest aircraft types including the A350-1000 and the A380, Airbus forecasts demand for 130 aircraft.
Airbus chief commercial officer, Christian Scherer said: “China is one of the most powerful growth engines of global air transport. It will become the world’s number one aviation market in the very near future.”