Economy

China will need over 3,750 jumbo jets by 2029

(Xinhua)
Updated: 2010-11-16 16:05

ZHUHAI - China will need more than 3,750 jumbo jets to meet market demand by 2029, Commercial Aircraft Corporation of China (COMAC) predicted in a report Tuesday.

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Over the next 20 years, air passenger volume in China will be the fastest growing in the world, expanding at an annual 7.7 percent compared with a 5.2-percent growth rate for the global average, the report said.

COMAC released the report at the eighth China International Aviation and Aerospace Exhibition that began Tuesday in Zhuhai City in south China's Guangdong Province.

The new demand for aircraft in China by 2029 will total more than $450 billion in value, or about 13 percent of the world total.

The report is COMAC's first on China's and the world's civil aviation market. The company said it will begin releasing such a report once a year in the future.

During the exhibition, also known as Airshow China, COMAC said it had struck deals to deliver 100 of its homegrown C919 jumbo jets to Air China and five other domestic and overseas airline companies.