An official at the Chinese Aviation Industry Technology Committee has forecast that revenue from the Chinese aerospace industry would exceed combined revenue from Boeing and EADS by 2020. Over the past decade, aerospace industry revenue in China has increased at an average of 37% p/a, thanks to continued outsourcing by major aerospace manufacturers, including Airbus and Embraer's production lines in the country.
The Chinese aerospace industry is involved in all major new aircraft platforms from Bombardier, Airbus and Boeing as well as the production of its own aircraft through COMAC. The Aviation Industry Technology Committee has forecast combined aerospace revenue of USD55-60 billion p/a by 2020 for Chinese companies.
In trading on Friday, shares in BBA Aviation slipped 2.9% while most other aerospace manufacturers and suppliers also finished the day lower. Lockheed Martin shares finished the day 1.8% higher, with the company announcing last week that striking workers would return to work, following union acceptance of a new compensation offer.
Selected Aerospace daily share price movements (% change): 11-Mar-2011