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Airbus predicts that China will become the largest aviation service market in the next two decades, with an average annual growth rate of 5.2% nearly twice the global average.

2024-02-29 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com, December 12 (Xinhua)-- at Airbus's year-end media conference, Airbus predicted that China will become the largest aviation service market in the next two decades. Airbus said China's air passenger traffic would grow at an average annual rate of 5.2 per cent, nearly twice the global average.

CTOnews.com found that by the end of June 2023, Airbus had a fleet of 2175 aircraft in service in mainland China, accounting for 54 per cent of the market.

Airbus predicts that China will need more than 9440 new passenger and cargo aircraft by 2042, accounting for 23 per cent of global demand for new aircraft in the same period. In the next 20 years, China's air passenger traffic will grow at an average annual rate of 5.2%, and the world will need more than 40850 new aircraft.

Data show that by 2042, China's annual per capita number of flights is expected to increase from 0.5 (2019) to 1.7. The main driver of future air traffic growth is expected to come from the personal consumption of the growing middle class (from 800m today to 1 billion in 2042).

In July, Airbus said that the new passenger and cargo aircraft delivered to China would include 8020 single-aisle aircraft represented by Airbus A220 and Airbus A320 series aircraft, and 1420 wide-body aircraft represented by Airbus A330neo and Airbus A350 aircraft. About 75% of the new aircraft will be used for market growth, and 25% of the new aircraft will be used to replace aircraft currently in service.

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