It would take China over a decade to create a universally homegrown and competitive airplane manufacturer that can go one-on-one with the likes of Airbus and Boeing, as per to an industry veteran. Aerospace is a multifaceted industry and it takes time period, even for ingrained companies, to mount up knowledge and expertise to construct the reliable commercial airplane, said Bernard Charles, CEO and Vice Chairman of Dassault Systemes. At the Boao Forum in China, he said to CNBC, “I think it would take China one to two eras of aircraft to have a really worldwide aggressive product but it is a logical development, provided the industry size of the nation.”
Dassault Systemes is a European software company that sells software to jet manufacturers that assist them in digitalizing their businesses. The notion is that by holding more technology in daily maneuvers, those companies can bring down the price of the jets, utilize resources more effectively, and accelerate production to fulfill demand. At present, European planemaker Airbus and the U.S.-based Boeing control the aircraft manufacturing market with a number of comparatively smaller companies like Canada’s Bombardier and Brazil’s Embraer. For its part, China is planning to get in the action with the state-owned Comac (Commercial Aircraft Corporation of China), which is based in Shanghai. That can potentially lower the country’s reliance on the likes of Airbus and Boeing.
Recently, Airbus was in news as Vietnam’s Bamboo choose Boeing competitor for narrow-body jets. Seemingly, Vietnam’s Bamboo Airways has invested on Airbus SE’s A321neo aircraft by approving to purchase up to 26 of the narrow-body aircraft, picking the competitor to Boeing’s 737 Max for its development in one of the fastest-growing aviation markets globally. In an interview, Chairman Trinh Van Quyet said that the startup carrier approved to six purchases of the A321neo and has kept a choice to buy 20 more. The total worth of the contract will be $6.3 Billion.