COMAC said that in 2022, large aircraft will gradually shift from the development stage to the industrialization stage. C919 is expected to be delivered in 2022.
C919 large aircraft into industrialization stage
The industrialization schedule of China’s large aircraft C919 is determined. According to COMAC’s official website on February 8, COMAC held the 2022 cadre Conference on the first working day after the Spring Festival holiday in the year of the tiger. He Dongfeng, chairman of COMAC, said at the meeting that in 2022, the large aircraft will gradually shift from the development stage to the industrialization stage . With overlapping tasks, intertwined contradictions and urgent situation, the Party committee of the company has determined the main goal of “two guarantees and four highs”.
He Dongfeng demanded that we should vigorously promote openness and cooperation and unite external forces. We should unite with suppliers, partners and customers outside China, pool the strength and resources outside China, and strive for support for the company’s model development and aircraft operation. He Dongfeng stressed: “no matter what difficulties you encounter, you should adhere to it and make sure to get the big plane up” .
domestic large aircraft are expected to be delivered this year
C919 is the first trunk civil aircraft developed in accordance with the latest international airworthiness standards in China, also known as “domestic large aircraft”, with a seating class of 158 to 168 seats, benchmarking Boeing B737 and Airbus A320. The aircraft type c916 was approved by the Civil Aviation Administration of China on December 12, 2020, and the first Airworthiness of the aircraft type c916} was completed.
For the progress of C919 airworthiness certificate certification, in December 2021, CAAC disclosed the specific situation of C919 airworthiness certification subjects, 1694 test points and 34 approved flight test subjects have been completed, and a large number of flight tests such as natural icing need to be completed.
On the specific delivery time point, during the two sessions in Shanghai in 2022, Wu Yongliang, deputy general manager and chief accountant of COMAC, once said that the domestic C919 project is still in the airworthiness certification stage and is expected to be delivered in 2022. The specific delivery will not be qualified until the certification is completed.
China Eastern Airlines or the first start-up user of domestic large aircraft in the world. In March 2021, China Eastern Airlines signed a C919 large passenger plane purchase contract with COMAC, and introduced five of the first batch. According to the team in charge of C919, as of the beginning of this year, the company had won orders for 850 aircraft from China and abroad. The main subscribers of in China are Air China Limited(601111) , China Eastern Airlines, China Southern Airlines Company Limited(600029) , Hainan Airlines and other airlines, as well as leasing companies such as BOC leasing, ICBC leasing and bocom leasing.
C919 will bring changes to China’s aviation industry
According to the forecast annual report of COMAC’s civil aircraft market, by the end of 2036, China will have a demand for 8575 new aircraft, and the civil aircraft market space will be nearly 8 trillion. China’s passenger aircraft market has a huge space. C919 large aircraft has entered the stage of industrialized production, and the relevant supply chain will usher in rapid development.
Galaxy Securities Research Report once said that according to the market forecast of COMAC and Boeing, China’s demand for narrow body airliners such as C919 will be about 300 per year in the next 20 years. Assuming that C919 can reach one-third of the market share in China in the future, the average annual delivery of C919 aircraft is expected to reach 100. At present, the price of delivered ARJ21-700 aircraft is 86% of the price of similar foreign models Bombardier crj-900. Therefore, according to the pricing proportion of ARJ21-700, the price of C919 is predicted to be about US $80 million. Therefore, it believes that the annual sales of C919 is expected to reach US $8 billion in the future. According to static estimation, it will bring about 68% increment to China’s aviation industry in the future.
According to the statistics of securities times and data treasure, among A-share listed companies, Hunan Boyun New Materials Co.Ltd(002297) has signed the main contract of wheel braking system of C919 large aircraft project; Avic Jonhon Optronic Technology Co.Ltd(002179) is listed in the list of C919 large passenger aircraft suppliers; Baoji Titanium Industry Co.Ltd(600456) provides titanium materials for C919 passenger plane project.
In addition, the airframe of C919 passenger aircraft is mainly supplied by Chinese suppliers, and the airframe business is mainly undertaken by three listed companies Jiangxi Hongdu Aviation Industry Co.Ltd(600316) , Avic Xi’An Aircraft Industry Group Company Ltd(000768) , Avic Shenyang Aircraft Company Limited(600760) . From the perspective of upstream and downstream industrial chains, body manufacturing will demand upstream raw materials. It is suggested to pay attention to Weihai Guangwei Composites Co.Ltd(300699) , Baoji Titanium Industry Co.Ltd(600456) and other companies.
