In the future, the improvement of urbanization level and consumption upgrade in China will promote the continuous growth of air transport demand. Based on the analysis of the future development environment of air transport in China, the air transport market in China is expected to maintain stable growth in the next 20 years. Passenger turnover grew at an average annual rate of 7.4% and freight and mail turnover at an average annual rate of 9%.
By 2038, the 150-seat class of single-aisle aircraft is expected to chitinous to dominate China's passenger fleet, with 4,680 such aircraft in operation and an estimated market demand of 3,970 valued at nearly $400 billion. In the next 20 years, China will need about 4,500 regional aircrafts, worth about $420 billion, according for more than 15% of the international market. It is these increasing actual demand for the development of China's aviation industry to create a broad market space.
On the one hand, strong international and domestic market demand for China's civil aviation has provided a huge development space. One the other hand, the civil aviation industry has been highly valued by the country in recent years, and a series of related policies and measures have been introduced, which have greatly promoted the rapid development of China's civil aircraft. COMAC will complete the Phased task of "Three - One " in 2021, and the domestic subcontract production business will also be vigorously developed.
The next 10 years will be a crucial period for accelerating the rapid development of China's aviation industry and a crucial period for realizing leapfrog development of the aviation industry. Seize the opportunity, aim at the target, with good domestic policy trends and open domestic and foreign cooperation to contribute to the development of the aviation industry.