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RESERVED AREA
Aerospace in China: prospects and business, Torino October 27th, 2009
TORINO INCONTRA Congress Center
Via Nino Costa 8 - Einaudi Room
The conference, within the programme of Aerospace & Defense Meetings collateral events, offered an overview of the chinese market: a prospective partner for the european companies of high interest.
Among the speakers AVIC - China Aviation Industry Corporation representatives, the big aerospace public company, managed by the Chinese Central Government, organised in 10 business units. The representative of the 6 units that were in Torino to highlighten strategies, advantages and the corporate companies participation in the main aerospace programmes. Barbara Goia (Mrs.), aerospace sector expert and business consultant for Torino Piemonte Aerospace project talked about the Chinese aerospace industry, pointing out the market trend and prospects for the European market.
In the next 20 years China will register a 7,2% yearly growth of GDP and in the next 10 years it is expected that China will overcome Japan imposing itself like second world economy. Economic development opportunities are many then.
In particular for the aerospace sector, China announced at the beginning of 2009 an allocation of 45B Euro (+33% compared with 2008) and a commercial development plan schedule for the construction of a hundred of airports by 2020, 40% of them built by 2010.
In addition, China will have to triplicate its airforce up to 4.610 airplanes by 2028, to satisfy the extraordinary growth of the of air traffic. 3.770 will be the new acquired airplanes, 42% of the Pacific Asia market for a total amount of 400B US$. 70% will be represented by single aisle airplanes for the domestic market.
