China is poised to become the world’s largest aviation service market by 2043, according to Airbus China. With a current fleet of approximately 4,500 civilian aircraft, China’s service market contributes to 15 percent of global demand. This significant growth is set to nearly triple in value over the next two decades.
“The Chinese market will become the largest in the world, with its market value growing from $23 billion in 2024 to about $61 billion by 2043,” said Hu Yongdong, Vice President of Strategy, Development & Operations Customer Service at Airbus China, in an interview with CGTN. “This surge will drive the growth of the global service market.”
The projected expansion underscores China’s dynamic role in the global aviation industry. As the market evolves, opportunities for entrepreneurs, investors, and service providers are expected to expand, making China a focal point for future aviation developments.
Industry analysts note that this growth aligns with broader economic trends in Asia, reflecting increased demand for air travel and related services. The aviation sector’s expansion is anticipated to contribute significantly to the region’s economic landscape.
With this forecasted growth, China’s aviation market is set to influence global aviation strategies, prompting businesses worldwide to pay close attention to emerging opportunities within the region.
Reference(s):
China to become the world's largest aviation service market: Airbus
cgtn.com
