Beijing (XFN-ASIA) - China's airlines will need 6,600 engines
worth more than 65 bln usd over the next 20 years, according to Rolls-Royce.
It said that Chinese airlines are expected to buy more than 3,100 new airliners over the next two decades, with the average annual growth of passenger traffic expected to reach 8.8 pct per year.
The company added that annual growth figure for passenger numbers in the near term is likely to be much higher.
In a briefing at the Beijing Aviation Expo, Rolls-Royce also said that the wider Asia-Pacific market is expected to need 26,000 new engines over the next 20 years, 46 pct of which will be high-thrust engines able to power twin-aisle widebody aircraft.
"Asia is the key market for new aircraft in the 400-plus seat category, with aircraft of this size expected to account for 55 pct of deliveries in the region," it said.
The company added that global demand over the next two decades will drive the purchase of 60,000 new commercial aircraft, providing a market opportunity for 132,000 engines with a value of 700 bln stg.
It said these engines will create an additional aftermarket and services business of around 550 bln usd over their in-service life.
Rolls Royce's Trent 900, the launch engine for the Airbus A380 "Superjumbo," will begin commercial service with Singapore Airlines next month.
China Southern Airlines, currently the only mainland customer for the A380, has also chosen the Trent 900 engine, Rolls Royce said.