Compound growth in the Chinese general aviation market will reach 30% by 2020, according to a recent report, as the industry moves from a preparation to development phase.
Research and Markets recent report on the development of GA in China between 2018-2023 states that 2014 and 2015 were important periods of fast development for the industry, which is gradually entering its development phase.
As the report notes, “The process of reform in low-altitude airspace deregulation will speed up, while more and more related policies will be issued, and the general aviation industry will become a strategic emerging industry fuelling economic growth and realizing industrial upgrade.
Based on the prediction from the Civil Aviation Administration of China (CACC), the number of general aviation aircraft will meet 10,000 in 2020, and industry compound growth rate will reach 30%; the market size will hit RMB150 billion.
Moreover, the market size for the upstream industry and downstream industry is estimated to reach more than RMB1000 billion, calculated by the input-output ratio of 1:10.
It’s estimated that the numbers of fixed-wing aircraft, helicopter and other general aviation will be up to 7500, 2000 and 500 respectively in 2020; while the flight time of general aviation in China will reach 1.75 million hours.