China's Aviation Sector Requires Replenishment Totaling 6,100 Civil Aircraft Over Next 20 Years, AVIC Says(Yicai Global) Nov. 24 -- China air travel sector requires the replenishment of 6,103 civil aircraft, including 5,120 large jet aircraft and 983 regional aircrafts over the next 20 years, says the Aviation Industry Corporation of China (AVIC) in its annual forecast report related to the country's civil aviation sector for 2017 to 2036.
China's air transport market will maintain steady growth and the annual average growth rate of passenger turnover will be 6.8 percent from 2017 to 2036, the report indicates
By the end of 2036, China's civil aviation transportation industry is expected to have a total fleet of 7,079 planes. In 2016, China's air transportation industry maintained rapid and stable growth, transporting 488 million passengers, up 11.9 percent annually, and delivering 6.68 million tons of goods, an increase of 6.2 percent from a year earlier, the report states.
Key drivers of the industry are the sustainable and steady growth of the national economy, the rapid development of tourism, acceleration of urbanization and upgrading of residents' consumption patterns, AVIC says.
China will increase international flight routes and also adopt more wide-body aircraft as following an increase in economic and trade exchanges through the One Belt, One Road Initiative, strong growth of demand for international tourism and the strengthening of international competitiveness among Chinese airlines,
The forecast does not include demand for airlines from Hong Kong, Macao, and Taiwan.
