RUSSIA AND CHINA ARE READY TO TAKE ON AIRBUS AND BOEING

 

 

 

 

On Monday, the state-owned commercial aerospace enterprises of both countries formally established the China-Russia Commercial Aircraft International Co., Ltd or Craic. The new project has backing at the highest levels of both countries. Chinese President Xi Jinping and Russian President Vladimir Putin originally penned the agreement to join forces and take on the western jetliner industry in June 2016.    

 

 

China and Russia began to cooperate in Aerospace Industry. Therefore, there is much attention towards whether the cooperation between the two countries will provide a foothold to surpass that of the United States, which boasts the world’s most powerful aerospace industry.

 

In addition, China-Russia ties are expected to be strengthened furtherThe new Chinese-Russian airliner doesn't yet have an official name, though it's been called the C9X9 or C929. According to a statement by UAC the new venture will be based in Shanghai near Comac's headquarters.

 

China and Russia are set to sign a milestone agreement on joint space exploration from 2018 to 2022, which is expected to be signed in October. China's aerospace industry is on a slow, but steady, ascent. The C919 from the Commercial Aircraft Corporation of China made its first flight on May 5 and is meant to compete with the single-aisle Boeing 737 and AirbusA321.

 

 

Did you know:

  • China is on track to be the largest commercial aviation market, surpassing the U.S. by 2030. Boeing estimates China will need $1 trillion worth of new aircraft over the next 20 years, including approximately 1,500 the size of the new Sino-Russian airliner.
 
  • New jet would carry about 280 passengers in three classes and fly roughly 6,500 nautical miles

 

  • Boeing calculates that by 2036 China will be the largest domestic airline market in the world.

 

  • Boeing identifies that over the next 20 years there will be a global market requirement for 41,030 new aircraft, worth $6.1 trillion.

 

 

Russia and China have agreed to develop a gas-turbine engine for the joint commercial aircraft (LRWBCA). The memorandum of cooperation was signed by Russia’s United Engine Corporation (UEC) and China’s AECC Commercial Aircraft Engine Co. (AECC CAE) at Aviation Expo China 2017 in Beijing.

According to Zou Yubo, an aerospace expert, revealed that China and Russia’s cooperation is an excellent decision, saying, “If China and Russia try to catch up with the United States on their own, it’s hard to tell when they will reach their goals. But if both countries team up, the results can be clear. At least in the next 10 years, the three countries will be able to compete at the same level."

 

Source: CNN MONEY, 2017

 

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Monday Oct 2, 2017