Bombardier Eyes $30 Billion Bizjet Market in China

Bombardier Aerospace, which opened ABACE with the signing of a sale contract for a Global aircraft, is projecting a market for up to 950 business jet deliveries valued at $30.9 billion into China through 2023. Michael Han, regional vice president-China for Bombardier Aerospace, announced the Global order, saying it was the culmination of an 18-month negotiating period. The manufacturer was not ready to detail the customer or exact model, but said delivery would be later this year.

The order buoys Bombardier’s optimism for China, believing it is poised to become the third-largest region in terms of business jet deliveries over the next two decades. Over the forecast period, Bombardier forecasts that as many as 285 large-cabin business jets valued at $15.5 billion will be delivered to China. This represents 30 percent of all business jet deliveries and 50 percent of total delivery value. Medium jets, meanwhile, are expected to account for 430 deliveries to China, or 45 percent of all business jet deliveries, and $12.3 billion, or 40 percent of total delivery value.

Han pointed to several factors positioning China for the growth in aircraft deliveries, including sustained economic expansion, growth of high net-worth individuals that are increasingly flying internationally, and the continued improvement in the operating environment in the region. Currently, Bombardier has an installed fleet of 120 aircraft in China. As the fleet grows Bombardier is expanding its support in the region. In fact, the company is finalizing contractural agreements and plans to break ground shortly on a new support center in Tianjin, according to Gary Martin, Bombardier vice president sales, marketing and service programs.

Bombardier announced in November 2013 that it had signed a letter of intent for a joint venture with the Tianjin Airport Economic Area to increase maintenance services in Mainland China. This includes the development of a maintenance facility that would service Bombardier business jets and possibly commercial aircraft.

The center, expected to open in 2017, will join Bombardier’s new facility in Singapore supporting business jets in the Asia Pacific region. That facility, which opened a little more than a year ago, already has serviced 150 aircraft and obtained authorizations from 10 countries. The most recent authorization comes from India, granted just this week. The facility, which supports the range of Bombardier business aircraft, includes 3,000 sq m (32,000 sq ft) of hangar space, 3,500 sq m (38,000 sq ft) of dedicated ramp, and 3,500 sq m (38,000 sq ft) of workshop, warehouse and office space. Bombardier recently added capabilities under an agreement to house a Singapore office of interiors specialist Flying Colours at the facility.

#BombardierEyes30BillionBizjetMarketinChina #BombardiersGlobal6000 #bombardierglobal7000 #bombardierjets #bombardieraerospace #ABACE #China #bombardierglobal5000