Billion contract for 30 airliners. Aircraft manufacturer chose China

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European

Which brings us to Canada-based Bombardier (BDRBF) , a mid-sized aircraft manufacturer that’s going toe-to-toe with its larger rivals Boeing and Airbus Group. Airline passenger growth in emerging markets, combined with the need for fuel-efficient

aircraft manufacturerGermany and China signed during the visit of Chancellor Angela Merkel in Beijing, an agreement whereby Chinese airlines will buy 30 A330 passenger aircraft manufactured by the European aviation group Airbus, inform CNBC.com.

 

China, The Third Major Aircraft Manufacturer

China has been the biggest manufacturer of commercial goods for a very long time. It has accomplished this market by following a strategy of low-cost production which gave the country the ability to flood any market especially with its mass produced

The contract, worth 17 billion euros (18.57 billion dollars) was announced immediately after German Chancellor Angela Merkel met with China’s Premier Li Keqiang.

Airbus is in direct competition with the US group Boeing for dominance in the Chinese market.Boeing Co. It estimated that in the next two decades will reach a turnover of 1.000 billion dollars in the Chinese market.

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Air China Ltd and other airlines expand their fleets Chinese planes, given that the number of passengers in the Chinese market is expected to triple in the next 20 years.

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To secure orders from China, the European Airbus agreed in July to build an assembly center worth 150 million euros in the Chinese province of Tianjin.

In turn, Boeing signed a cooperation agreement in September with the group Comac (Commercial Aircraft Corporation of China) to build an assembly center in China.

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