Photo: Courtesy of Airbus China

China will need over 9,440 new passenger and freight planes by 2042, according to a forecast released by Airbus on Thursday, explaining the demand is generated by the rapid expansion in passenger traffic of predicted 5.2 percent per annum growth rate over the next 20 years.

The demand also makes up more than 23 percent of the world's total demand for about 40,850 new aircraft in the next 20 years, the forecast said.

New deliveries of passenger and freight aircraft for China will cover 8,020 typically Single Aisle like the A220 and A320 Families and 1,420 typically widebody planes including  the A330neo and A350, around 75 percent of this demand will be for growth and 25 percent will be to replace aircraft currently in service.

George Xu, Airbus Executive Vice President and Airbus China CEO said the Chinese aviation market has shown a strong recovery momentum since the beginning of this year. 

With the latest, most efficient and lowest-emission aircraft represented by the A320neo family and A350 being delivered to Chinese customers, this ensures the sustainable growth of the Chinese aviation market, he said. 

By 2042, the propensity for the Chinese population to fly will more than triple the average 0.5 trips per capita recorded in 2019 to an average of 1.7. A growing Middle Class is expected to be the main driver of future air traffic growth. 

China has become the biggest single country market of Airbus around the world. By the end of June 2023, Airbus in-service fleet in the Chinese mainland reached 2,175 aircraft representing a some 54 percent market share on the Chinese mainland. 

Airbus SE reported consolidated financial results for the first half of this year, as its consolidated revenues increased 11 percent year-on-year to 27.7 billion euros ($30.8 billion), up from 24.8 billion euros in the first half of previous year. A total of 316 commercial aircraft were delivered, comprising 25 A220s, 256 A320 Family, 14 A330s and 21 A350s.

The Chinese aviation market is witness a strong recovery lately, with flight numbers in July exceeding 10,000 per day, the Chinese civil aviation regulator said, highlighting that on July 8 and 10, the country recorded more than 12,000 flights, recovering to reach 64.5 percent of pre-pandemic levels.

Global Times