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Airbus: China will need 1,790 planes
(Agencies)
Updated: 2005-03-09 10:04
HONG KONG - European aircraft maker Airbus SAS on Tuesday forecast that China will need 1,790 passenger and cargo aircraft totaling $230 billion to meet growing demands over the next two decades.
A static display of the Airbus aircrafts from the European Aeronautic Defence and Space Co. is seen at an exhibition stall during the second day of the fifth edition of the Aero India air show at the Yelahanka air force station on the outskirts of Bangalore February 10, 2005. [Reuters] |
"Air transport will become even more essential as a facilitator of China's strong economic growth than in the past, both in passenger and freight traffic," Laurent Rouaud, Airbus's vice president for market forecasts and research, told a news conference on airline industry trends.
China is expected to have the fastest-growing demand for passenger jets over the next 20 years to become the world's No. 2 market after the United States.
Chinese airlines have increasingly divided their purchases between Airbus and Boeing Co., which has dominated the market for years.
Rouaud said China's demand for small twin-aisle aircraft is expected to be 440 planes in the next 20 years.
The company also estimated that China's passenger traffic will rise 9.1 percent a year over the next 10 years, while its freight traffic will also increase by 9.0 percent annually.
Rouaud said the trend will boost demand in various types of aircraft, including the 100-seater A318 to the 555-seater A380.
"Air traffic and aircraft demand could be further stimulated by the low-cost carriers in the region," he said.
Globally, Airbus expects airlines to require more than 17,300 new aircraft between 2004 and 2023.
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