download (5).jpg (Photo : Reuters)
Airbus Group NV, a European leader in jet manufacturing, is aiming to double the year-on-year value of aircraft parts sourced from China to a staggering $1 billion in 2020, according to Rafael Gonzalez-Ripoll-Garzon, the company's chief operating officer in China.
The statement was made during Airshow China held in Zhuhai to counter Boeing's announcement of planning to increase component sourcing from China.
Boeing vice-president Kent Fisher mentioned that the commercial airliner firm is aiming to double in the coming years the value of China-sourced aircraft components to $2 billion.
According to Boeing, the company inked an agreement with the Aviation Industry Corporation of China to manufacture Boeing 777's tail parts starting 2017.
Airbus Group NV and Boeing Commercial Airplane are already locked in a fierce competition in China. The most recent forecast from Boeing said that the country will be needing more than 6,020 new aircraft worth $870 million within the next two decades.
The competing firms utilize China-made aircraft components, such as emergency doors fitted in Boeing B787 and Airbus A330 jets.
Recently, China Aircraft Leasing Group Holdings Ltd. reportedly purchased 100 A320 airplanes from Airbus Group NV, with the official contract to be signed by the end of November.
Airbus also got another pledge worth $7 billion for 70 A320 planes from China last month.
