November 22, 2010 08:08 ET

China Projected to Spend $390 Billion on New Planes

ROCKVILLE, MD--(Marketwire - November 22, 2010) - has announced the addition of RNCOS's new report "Aerospace Industry Forecast to 2013" to their collection of RNCOS market reports. For more information, visit

The global aerospace industry has witnessed an impressive growth during the past few years, with civil aviation segment emerging as the major contributor towards the growth of the industry. The US and European countries have been the dominant markets of this industry and are acting as a catalyst for the overall industry growth. During tough economical conditions also, the aerospace industry has shown an upward trend in line with strong market developments in the US.

According to our new research report "Aerospace Industry Forecast to 2013," the aerospace industry has globally emerged as a highly potential market, even after the economic recession. Increase in air traffic and considerable increase in military budget have provided the much required growth impetus to the industry during recession.

Currently, the US represents the biggest aerospace market. The country registered estimated sales of US$ 215.2 Billion in 2009. The US is followed by the EU, Canada, and Japan. However, developing nations like China, India, Mexico, and Brazil are expected to emerge as potential marketplaces for aerospace products in near future. In fact, with 36% of the backlog of large commercial aircraft, the Asia Pacific region is rapidly becoming the largest market for new orders.

China, which ranks among the fastest growing industries globally, has seen a huge government and private spending in the aerospace industry. Moreover, domestic aerospace majors have registered their presence at the global front. It is anticipated that the country will purchase over 3,700 airplanes by the end of 2028, with an estimated value worth US$ 390 Billion.

Moreover, the air traffic market is expected to grow annually at a rate of 4.9% during the next 20 years, considerably higher than the global GDP growth rate. This will transform in the fast development of civil aerospace segment, which is expected to grow at a faster pace than the defense segment. It is estimated that by the end of 2029, the world's airlines will take delivery of 29,000 commercial aircrafts with total value of US$ 3.2 Trillion to keep pace with the growing demand for air travel.

For more information, visit

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