COMAC forecasts 7% growth in China's air transport, 4960 aircraft in China by 2031

COMAC, in its 20-year forecast (2012 to 2031), stated (13-Nov-2012), China will require up to 4273 "large" aircraft by 2031 adding "the sustained economic growth has provided a solid driving force for China's air transport industry". According to the aircraft manufacturer, by 2031 the global aviation market will require 31,739 commercial aircraft including 7258 widebody aircraft, 20,662 narrowbody aircraft and 3819 regional jets, with a combined value of USD3890 billion. Also by 2031, China will require 4960 aircraft including 3405 narrowbody aircraft, 868 widebody aircraft and 687 regional jets, with a combined value of USD563 billion. According to COMAC, the narrowbody aircraft and regional jets will be the main aircraft model operating in China's domestic network. COMAC also forecast that over the next 20 years, the global aviation industry will increase an average rate of 4.9% p/a including a 7.2% increase in China. [more - original PR - Chinese]