China's aviation market to grow 7.9% annually until 2028: Airbus

Sep. 22, 2009 (China Knowledge) - Airbus SAS, the world's largest commercial plane maker, estimated that China's aviation market will grow 7.9% annually for the next 20 years, the official Xinhua News Agency reported on Monday.

The Chinese market will be second only to the Indian market, which is likely to grow 10% per year in the next two decades, Airbus recently said in a report.

China and India, together with other countries in the Asia Pacific region, will buy an estimated 31% of the 25,000 planes Airbus plans to produce between 2009 and 2028, more than either Europe or North America, according to the report.

The world's aviation market is expected to decline 2% in 2009 and to increase 4.6% over the next year, said the company.

China's civil air transportation continued to recover in August. Total air traffic turnover increased 7.4% month on month and 30.6% year on year. Passenger traffic turnover rose 7.6% month on month or 41.6% year on year, and cargo traffic turnover grew 8.6% month on month or 18.1% year on year, according to statistics released by the Civil Aviation Administration of China.