France's Snecma aims for 10% annual growth in China until 2015
"We hope to grow in parallel with the development of the Chinese aviation market," he told XFN-Asia in Beijing.
"We sell 1000 CFM56 engines per year globally, with 10 pct of sales to China. The figure should grow 10 pct a year," he said.
The CFM56 engine -- Snecma's chief product in China -- was jointly developed with General Electric. Snecma is the sole engine supplier for the Boeing 737. It also supplies the Airbus A320 and A319 aircraft.
Currently Snecma has a 55% market share in China for its CFM56 engine and Borel said he hoped to maintain this share.
Borel said biggest challenges for Snecma in China included the surging prices of oil and port manufacturer approved (PMA) parts.
"The current prices of oil can limit our growth in China," he said.
He said PMA's, which are copied aircraft parts approved by China's authorities, were also hurting growth.
"Every PMA sold is that much less for us," he said.
He added repairs of engines by non-qualified companies were also difficult to control.
The control and maintenance of each engine is valued at one mln usd every five years.
Safran's first half sales rose 2.3%t to EUR4.943 billion.