Aviation in China expected to boom
April 3, 2012, 11:52 am
In China, the market for business jets and personal aviation is on the rise. Both Chinese and foreign companies are investing heavily in the aviation and corporate aircraft industry, as the country looks to increase its global reach of customers and market share.
Du Jianyu, vice president of Big White Bear Jet, told China Daily that his company is optimistic about the prospect of China's business jet market growing rapidly, as the economic growth in China is far outpacing levels seen in the United States and throughout Europe.
The focus of Jianyu's private jet company is on aircraft management. In 2011, just 132 business jets were registered in China, less than 1 percent of all registered business jets in the United States. In the next 10 years, however, Chinese business jet company founders predict the number to surpass 1,000 jets China Daily reported. Makers and operators of the business jet industry in China believe the upper class will create high demand for business jet services, despite the idea of traveling via personal jet is still new to Chinese businesses, China Daily reported.
Last week, the Asian Business Aviation Conference and Exhibition, held in Shanghai, attracted more than 150 companies from overseas enterprises, and displayed more than 30 business jets and unique services. In 2011, Airbus sold 10 business jets at the event, half of which were purchased from a Chinese buyer. Although there are no current Chinese companies manufacturing business jets, many experts believe this market too will grow in the future, China Daily reported.
Boeing recently signed a collaboration agreement with Commercial Aircraft Corporation of China, enabling China to become more involved in the production of commercial aircrafts, as its business jet industry takes root. Boeing and the COMAC will collaborate with Chinese universities and research institutions to make advances in the development of sustainable aviation biofuels, experiment with new aviation infrastructure and improve energy efficiency in the global industry.
As part of the partnership, Boeing and COMAC will launch the Aviation Energy Conservation and Emissions Reductions Technology Center in Beijing. Both companies will help fund the center to support research projects to increase fuel efficiency in the commercial aviation industry, while reducing greenhouse gas emissions on a global scale.
"Our hope is that innovative emissions-reduction technologies developed through the Boeing-COMAC Center will advance aviation in China and around the world," said Marc Allen, president of Boeing China.
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