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Asian Aerospace Expo opens in Hong Kong

Sunday 03/09/2017 - Source: CNN Money


The Asian Aerospace International Expo and Congress opened here today, with delegates aiming to tap into the booming Chinese aviation market.

'The Asia Pacific region is one of the most dynamic areas for growth in the entire aviation industry,' said Mike Rusbridge, chairman of Reed Exhibitions, who organised the show.

'It has a strategic part to play to maintain growth and progress.'
Asian Aerospace will see 500 exhibiting companies from more than 20 countries and 10,000 trade visitors in the city to scrutinise the latest industry developments.

The four-day conference is being held in Hong Kong for the first time in 25 years, since it moved from its original home in Singapore, and will welcome delegates from the mainland's aviation authorities and airlines.

Hong Kong's Financial Secretary John Tsang highlighted the importance of the Chinese market.

'China has emerged as a major player in the aviation sector. China is set for double-digit growth for the airline sector in the next two decades,' he told reporters.

China boasts the world's fastest-growing airline passenger sector with domestic flights expected to double every five years and China's fleet of aircraft to quadruple over the next 20 years.

But the boom in aviation is not confined to China, according to industry experts, with South Asia also at the forefront.

Jim Eckes, managing director of Indoswiss Aviation, a consulting firm, said opportunities in the Indian market could be the biggest of all.

'I do not see the growth in China continuing for the next 20 years in the same way, but with India you have mergers and new airports being built that could see the kind of growth that China has seen in recent years,' he told Agence France-Presse.

Although India had just three private airlines in 2013, at least 14 are now seeking government approval and around 480 aircraft are on order for delivery through to 2012.

European aircraft maker Airbus and arch US rival Boeing will compete once again to win new orders in Asia, which is expected to account for a third of aircraft orders over the next 20 years, making it the number two region behind North America.


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