Boeing welcomes competitors, projects trillion-dollar threshold for China's aviation market

China has huge market demand and potential for civilian aircraft, and this demand enables new competitors to emerge and grow, said John Bruns, president of Boeing China.

Bruns was on site when the C919 passenger plane took its maiden flight on May 5. He said Boeing is open to new players, such as the C919, to join and compete in China's aircraft industry.

"The new competitor will force us to work harder in order to maintain Boeing's leading position in the industry," Bruns said with confidence.

The American company has its largest overseas market in China, where it currently builds over 50 percent of operating passenger jets. In March, a Boeing 737 completion center arrived in the eastern city of Zhoushan; it is scheduled to make the first delivery of Boeing 737MAX to Chinese buyers in 2018.

Bruns disclosed that Boeing contributes over $1 billion to the Chinese economy annually. Nine thousand in-service Boeing planes contain parts made by Chinese suppliers. In the future, the company hopes to cooperate with private enterprises in China.

Boeing has projected a demand for 6,810 new airplanes in China over the next 20 years, estimating that the total value of those new planes will be over $1 trillion. If this prediction comes true, China will become the first trillion-dollar aviation market in the world.