Brazilian airframer Embraer´s (NYSE: ERJ) Executive Jets unit has presented its China Executive Aviation Market Outlook 2014-2023 during the press conference held at the Chinese International Business Aviation Show (CIBAS) 2013, in Beijing, China.
The company said it forecasts that a total of 805 executive jets will be demanded by the Chinese market over the next decade. The large-cabin business jet class is expected to represent 51% of this demand, accounting for 78% of the total value of deliveries.
Embraer maintains a favourable forecast for the Chinese executive aviation market potential, based on comprehensive studies of the country´s economic scenario.
China´s fleet of executive jets has experienced an average annual expansion of 27%, fueled by a 26% growth of the wealthiest population, from 2008 to 2012, according to the data released by Hurun Report, which is considered to be one of the most influential publications of the luxury genre in the country.
In addition, the overall environment calls for the development of executive aviation, in order to meet the demand for direct business and leisure travel, beyond the destination and schedule limitations of the airlines. The company´s market outlook also highlights infrastructure improvements as catalysts to executive aviation growth in China, with the number of Fixed-Base Operators expected to increase to nine, up from the current five.
Since 2004, when its first executive jet was delivered to this region, Embraer has booked orders for 38 executive jets in China, including five options. Leveraging its commercial jets service network and facilities, the company has several Authorized Service Centers for executive jets customers in the Greater China region, offering tailor-made efficient service and support.
Embraer is a manufacturer of commercial jets up to 120 seats. The firm´s headquarters are located in São José dos Campos, São Paulo, and it has offices, industrial operations and customer service facilities in Brazil, China, France, Portugal, Singapore, and the US.
Find out more at www.embraer.com.br.