China's aviation revenue to exceed Boeing and Airbus by 2020
By 2020, the sales revenue of China's aviation products is expected to exceed the two aviation manufacturing giants, namely the U.S.-based Boeing and the European EADS (parent company of the Airbus), making China a world power in aviation, said Zhang Hongbiao, a deputy of the National People's Congress (NPC) and official of the China Aviation Industry Technology Committee, on March 9.
Zhang said that the sales revenue of China's aviation products reached an annual increase of 37 percent over the past 10 years. It is expected that China's aviation sales revenue will exceed Boeing and EADS by 2020 even if only half of that growth rate is achieved in this decade from this year. By then China will have made 55 billion U.S. dollars to 60 billion U.S. dollars in sales volume.
