China's business aircraft industry shows signs of recovery

World
Europe

China's business aviation market showed signs of recovery in 2017, with the country's fleet of business aircraft reaching around 580, according to data from the Asian Business Aviation Association (AsBAA).

At the end of 2017, there were 330 business jets and 250 turboprop business aircraft in the Chinese market, used for business travel, law enforcement and humanitarian needs.

Meanwhile, China is home to around 900 rotary-wing aircraft. More than half of the fleet are turbine-powered air vehicles, which are frequently used for business travel.

"More frequent business activities stimulate the buying of business aircraft or using charter services thanks to the country's economic growth," said Jenny Lau, AsBAA chairperson.

"A more healthy and rational development of China's business aviation is on track following multiple years of slowing growth since 2013, after the previous round of market expansion," Lau said.

A crackdown on corruption saw growth in the business aviation industry slow down, with a report by the Asian Sky Group showing the market grew by only four percent in 2015.

However, this latest data from AsBAA supports other studies that have shown the industry bouncing back, with the Hurun Business Jet Owners 2017 report suggesting there was enough demand in China for 1,900 business jets.

To support such potential, China is pushing forward its construction of airports in the civil aviation and general aviation sectors, which both could be used by business aircraft.

By 2020, China's is expected to see 200 new general airports, bringing the country's total number of general airports to 500. The figure is expected to reach around 2,000 by 2030.

Source(s): Xinhua News Agency