China will open part of its low-altitude airspace for aviation to promote the nation's general aviation sector, including private aircraft. This will unleash pent-up demands for private air service and create a huge market with big potential and wide prospect.
China now has about 1,000 general-purpose aircraft. Civil aviation sector had predicted that by 2012, China needs 10,000 -12,000 general-purpose aircrafts of all kinds, taken at an average price of 3,000,000 yuan per aircraft and an industry proportion of 1:10, upstream and downstream industries will bring along a market scale of more than trillion yuan, along with a decade of golden development of the overall industry chain.
Industry insiders pointed out that investment in general aviation industry is relatively large, and the general aviation industry contributes substantially to related industries -- infrastructure construction, aircraft manufacturing, training, operations, follow-up aircraft maintenance and some other related industry chains will benefit from it.
In addition, besides aeronautical operation, the long general aviation industry chain also get involved in the development of aircrafts and engines, metallurgy, chemicals, advanced materials, electronics, information, special and precision processing technologies and industries. From the capital market, it will greatly benefit every link of suppliers of operation, service, maintenance, traning and aircraft manufacturing within the general aviation chain in medium or long term.
