More than half of the world’s population lives within a five-hour flight of Hong Kong. For this reason, Asian Aerospace boasts massive potential, with China being the jewel in the region’s crown. As a special trading partner for China, Hong Kong is ideally placed to tap into the vast pool of Chinese customers and monitor the prevailing trends on the Mainland.
Asia Pacific is the largest commercial airline market in the world
By 2030:
40% of the world’s commercial fleet will be based in Asia Pacific. +
50% of the world’s air traffic growth will be driven by travel to, from, or within Asia Pacific. Total air traffic for the region will grow by 6.7% per year during the period. *
China is the engine for growth
5,000 new airplanes valued at US$600 billion will be required by China's airlines by 2030. This represents 44% of Asia and 15% of the world's total demand. #
70 new airports will be added in China alone by 2015 to cope with the air traffic growth in the region. ^
Sources:
+ Flightglobal / Insight Commercial Fleet Forecast, Global: 2011-2030 H-2
* Boeing Current Market Outlook 2011-2030
# Global Market Forecast 2011 - Airbus Market Research & Forecasts
+ The 12th five year plan of People's Republic of China (PRC)