The company will be entrusted with the responsibilities to perform research, conduct development, manufacturing and marketing of large passenger aircrafts.
According to the Chinese Premier at the launch, Chinese made-planes should encompass activities to design and assembly of aircraft, the research and development of engines and the production of airborne equipments and high-tech light materials for the plane’s body. For this to happen,
One particular advantage is the huge domestic demand for commercial passenger jets. According to Business Week, the Chinese aviation industry, alone, is estimated to require up to 2,800 new passenger airplanes worth $329 billion and about 1200 cargo planes, over the next 20 years to keep up with the country’s impressive air travel growth.
It will not be so easy to challenge the dominance of Boeing and Airbus in the large passenger category and hence,
This time around with its given economic strength, the larger industrial base, and better planning facilities, there is less likelihood the Chinese government will repeat the same mistake 25 years ago, in building large aircraft.