China Unveils First Homegrown Passenger Jet as Aviation Market Booms

Strategic Insights -

China's ambition to become a major player in the global aviation industry took a significant step forward as the country's first domestically designed and built passenger jet, the C919, rolled off the assembly line in Shanghai. This achievement has huge symbolic value for the Communist party, as it aims to realize President Xi Jinping's vision of a "great rejuvenation of the Chinese nation." The development of China's first large passenger jet has significant commercial implications, as the country's aviation industry experiences rapid growth, with the number of airports expected to increase from 200 to 240 in the next five years.

Key Takeaways:

  • The C919, a direct competitor to Boeing's 737 and Airbus A320, is a landmark achievement for China's aviation industry, marking the country's entry into the top tier of global commercial aircraft manufacturers.
  • The plane's development has significant symbolic value for the Communist party, as it represents a major step towards achieving President Xi Jinping's vision of a "great rejuvenation of the Chinese nation."
  • The C919 is expected to be propelled by "Leap" engines produced by a partnership between France's Safran and the US firm GE, with many of its systems provided by international companies.
  • China's aviation industry has experienced rapid growth, with the number of airports expected to increase from 200 to 240 in the next five years.
  • Boeing predicts that by 2034 Chinese airlines will need to buy 4,630 new single-aisle planes worth $490bn (approximately £318bn) and 1,500 new wide-body airplanes worth $450bn.
  • Comac has already received 517 orders for the C919, the majority from Chinese firms including Air China and Hainan Airlines.
  • Work on the C919 began in 2008, but the first test flight was originally scheduled for 2010 and is now expected in 2016, which will be followed by a three-year testing period.

Statistics:

  • 4,000 people, including senior Communist party leaders, engineers, and journalists, gathered at the unveiling ceremony for the C919.
  • 517 orders for the C919 have been received from Chinese firms, including Air China and Hainan Airlines.
  • The number of airports in China is expected to increase from 200 to 240 in the next five years.
  • Boeing predicts that Chinese airlines will need to buy 4,630 new single-aisle planes worth $490bn (approximately £318bn) and 1,500 new wide-body airplanes worth $450bn by 2034.

Sources:

  • Xinhua, China's official news agency: "China joins big jet club!"
  • Bloomberg: Li Jiaxiang, the head of China's civil aviation authority, stating that "A great nation must have its own large commercial aircraft."
  • People's Daily: Declaring the accomplishment "an historic breakthrough"
  • Bloomberg: Zhang Shuguang, a civil aviation expert from Beijing's Beihang University, stating that "To catch up with Boeing and Airbus is the ideal scenario, but it will take time."
  • Comac: Announcing the C919's orders and specifications.