China to invest €72 billion in aviation projects – in 2015

7/29/2015 10:42:00 AM

In China, over 60 inland airports are currently under expansion, with another 30 new regional airports being built. Government planners estimate the number of airports in China will increase to 240 by 2020 from around 200 today.

The Civil Aviation Administration of China (CAAC) has announced that China is investing €72 billion in aviation projects in 2015 alone. According to a report by Business Insider, the need for airports and airport facilities is fuelled by increasing business travel and a surge in outbound tourism.
In June, China approved building projects for four additional new airports in provinces including Xinjiang and Heilongjiang. Chongqing, an industrial city in the southwest, is in the middle of large expansion. Chengdu is preparing to build a second airport with six runways and four terminals. Xiamen and Dalian are creating artificial islands for new airports.

Government data has shown that the number of leisure travellers going abroad for the first time reached 100 million in 2014. Foreign travel by Chinese tourists is expected to grow another 10 percent this year as the United States, France and Australia ease visa policies.
The aviation boom offers opportunities for global suppliers like Thales SA, Indra Industries, Raytheon Co, Lockheed Martin Corp and Honeywell Aerospace.

Further reading on uk.businessinsider.com

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