China will be the largest Aviation market in the world by 2035

In China, in the late 70s and early 80s, air travel was reserved for the rich and privileged. Fast forward to 2017 and China is fast becoming the largest aviation market in the world, with the industry now pushing to becoming the largest globally.

To put China’s growth into context. In 1982, there were only 4 million air passenger journeys. In 2016, according to figures presented by the Civil Aviation Administration of China, there were 487 million air passenger travelers.

This translates to an annual growth rate of more than 15% over a decade. Leading to many market analysts predicting that China will be the largest aviation market on the globe by 2035.

China’s rapid growth and bold ambitions to become number one in the global aviation market has been welcomed by foreign suppliers, all of whom want to be involved in the Chinese market.

Most notably, around 6,000 civilian aircrafts are being delivered by Airbus between 2016 and 2035 – this amounts to $945 billion on orders, or 18% of global demand.

However, China is aware that to truly supercharge its industry, it needs to reduce import costs. Subsequently, China is actively encouraging foreign suppliers to set-up shop directly in China.

For example, the final assembly of the Airbus A320 is in Tianjin. Boeing will eventually finalize the 737 in Zhoushan Island near Shanghai and make it ready for delivery – the first offshore production for the Americans. Airbus is also currently building in Tianjin at the second hall for completion and delivery, this time for the A330. The first aircraft was delivered from September 2017.
These two industry giants have secured large orders through their investments. The Chinese government is hopeful that the respective Chinese joint venture partners will offer valuable know-how for efficient aircraft assembly and quality assurance.

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