Embraer sees China buying 15 pct of world regional jets by 2031

Tue Nov 13, 2012 9:43am EST

* Estimate rises to 1,005 new jets with less than 120 seats
    * Planemaker forecasts 650 private jets sold by 2022

    Nov 13 (Reuters) - Brazil's Embraer SA, the
world's largest maker of regional jets, expects China to buy 15
percent of new 61- to 120-seat aircraft by 2031 as a growing
middle class bolsters travel between second-tier cities.
    Embraer released the regional aviation estimate at an air
show in Guangdong Province on Tuesday, forecasting 1,005 new
jets in the segment over the next 20 years. Last year, Embraer
forecast 975 new regional jets in China by 2030, representing 13
percent of global demand.
    The company also said it sees Chinese demand for 650
business aircraft by 2022 worth $24 billion, making up 9 percent
of global deliveries by value.
    Embraer has delivered 120 commercial jets in China since
2000, capturing 77 percent of the Chinese market for aircraft
smaller than 120 seats and diversifying away from U.S. and
European markets that have struggled in recent years. 
    The planemaker also got clearance in June to begin producing
its Legacy 650 executive jet in China, reducing the cost and
inconvenience of selling planes requiring import licenses.
    From 2012 to 2031, Chinese airlines are likely to receive
some 455 jets with 61 to 90 seats and 550 jets with 91 to 120
seats, according to the planemaker's estimates.