China not only wants to be the world’s largest consumer of helicopters, it intends to be the largest producer. This is a lofty goal for a country that had less than 100 civil-use helicopters five years ago. Yet as early as 2000, executives who ran China’s state-owned aviation companies predicted that the country would be one of the foremost helicopter manufacturers by 2030. Near-term, China has its eyes set on acquiring 2,000 civil helicopters by 2013 and as many as 10,000 by 2020, according to China National Aero-Technology Import and Export Corp.
The demand for helicopters is fueled by the country’s superheated $5 trillion annual economy, now the world’s second-largest behind the $15 trillion U.S. economy. Over the last decade the per-capita income in China quadrupled and the country’s economy is expected to continue to expand at double-digit yearly rates, according to the U.S.-China Economic and Security Review Commission (USCC). The country also is flush with cash. It holds the world’s largest foreign exchange reserves–$2.65 trillion.
