Embraer expects China order 805 business jets over the next decade
Embraer remains optimistic about China, after releasing its 2014-2023 outlook at this year’s Chinese International Business Aviation Show in Beijing.
Embraer has forecasted a total of 805 new business jet orders to come from China over the next 10 years. Large cabin business jet class are expected to represent 51 per cent of this demand, accounting for 78 per cent of the total value of aircraft deliveries.
Some 960 business jets were ordered throughout 2011-2012, which means that if the global market does not pick up, China could account for around 17 per cent of global business jet orders, based on Embraer’s prediction that the country will order roughly 80 business jets per year over the next decade.
Guan Dongyuan, senior vice president of Embraer and president of Embraer China, said: “Embraer’s decade-long investment in China’s commercial aviation market has resulted in a fleet of 120 commercial jets in service, and we are now building our presence in the Chinese executive aviation market, affording our executive jet customers the high quality service and support that our airline customers already enjoy.”
China’s fleet of business jets has experienced an average annual expansion of 27 per cent, fuelled by a 26 per cent growth of the wealthiest population, from 2008-2012, according to the data released by the Hurun Report.
After delivering its first executive to China in 2004, Embraer has booked orders for 38 executive jets in China, including five options.
Embraer is building executive jets in the country and in August 2013, the first Chinese-built Legacy 650 made its maiden flight and is expected to be delivered to the customer by the end of the year.