Global and China Aeroengine Industry Report, 2010-2011

Global and China Aeroengine Industry Report, 2010-2011

The global aerospace market grows at an annual rate of about 10%. Most of demand comes from Asia, the Middle East and Latin America, while some from the United States and Europe for the purpose of updating and upgrading. From 2010 to 2029, the global civil aviation market will need about 150,000 aeroengines valued USD 801.4 billion. These engines will also create after-sales services valued about USD 650 billion in their service time.

GE, P & W and RR monopoly the R & D of large civil aircraft engines. China has not installed a trunk liner or feeder liner with the engines made in China.

China’s annual output of civil aeroengines is very small. The engine delivery amount was only RMB 9.1 million in 2009, and is expected to be nearly RMB 12 million in 2011.

In 2010, AVIC Commercial Aircraft Engine Co., Ltd started to construct its R & D base. The launch of the large aircraft engine development project marked the formal start of China's civil engines. Following the United States, Britain, Russia and France, China has become the world's fifth country committed to the independent R & D of aeroengines. With the increasingly powerful economic strength, China has paid more attention to the aeroengine industry and provided support policies.

Xi'an Aero-Engine has huge potential. It can integrate the engine assets of Shenyang Liming Aero-engine, Harbin Dongan Engine and Chengdu Engine. By product, Shenyang Liming is the most promising one.

After integrating related assets in 2009, AVIC Aero-Engine Controls became the only domestic enterprise engaged in the R & D and sale of aeroengine control systems.

Compared with engines, aeroengine parts have higher output value in China. In 2010, the output value was estimated to be RMB 2.6 billion, up 37.5% year on year. Meanwhile, aeroengine component subcontracts brought RMB 609 million to Sichuan Chengfa Aero-Science & Technology, up 115% year on year, accounting for 53.19% of the total revenue. Beijing Cisri-Gaona Materials and Technology grasped the majority of market shares in the field of aeroengine superalloy.

With the development of China aviation industry, the output value of aeroengine maintenance and service has increased. Sichuan Haite High-Tech is the only listed aircraft maintenance company of China, and its aeroengine maintenance business maintains a gross margin of 45-55%. Global aeroengine giants have set up maintenance joint ventures in China, which will threaten the current status of Sichuan Haite High-Tech.
Table of Contents

1 Chinese Aero-engine Market Environment
1.1 Policy
1.2 Technology
1.3 Industrial Pattern

2 Global and China Civil Aero-engine Industry
2.1 Global Civil Aero-engine Market
2.2 Chinese Civil Aero-engine Market
2.2.1 Status Quo
2.2.2 Trends
2.3 Investment Opportunities in China Aero-engine Industry
2.4 Operation of China Civil Aero-engine Industry
2.4.1 Engines
2.4.2 Components
2.4.3 Subcontracted Production of Engines
2.4.4 Maintenance

3 Key Aero-engine Enterprises in the World
3.1 GE Aviation Group
3.1.1 Profile
3.1.2 Operation
3.1.3 Advantage & Strategy
3.2 Pratt & Whitney Group
3.2.1 Profile
3.2.2 Operation
3.2.3 Advantage & Strategy
3.3 Rolls-Royce
3.3.1 Profile
3.3.2 Operation
3.3.3 Advantage & Strategy
3.4 Snecma
3.5 CFM International
3.5.1 Profile
3.5.2 Advantage & Strategy
3.6 International Aero Engines AG
3.7 Engine Alliance

4 Key Enterprises in China Aero-engine Industry
4.1 Xi'an Aero-Engine (600893)
4.1.1 Profile
4.1.2 Operation
4.1.3 Advantage & Strategy
4.2 AVIC Aero-Engine Controls (000738)
4.2.1 Profile
4.2.2 Operation
4.2.3 Advantage & Strategy
4.3 Sichuan Chengfa Aero Science & Technology (600391)
4.3.1 Profile
4.3.2 Operation
4.3.3 Advantage & Strategy
4.4 Beijing Cisri-Gaona Materials and Technology (300034)
4.4.1 Profile
4.4.2 Operation
4.4.3 Advantage & Strategy
4.5 Sichuan Haite High-Tech (002023)
4.5.1 Profile
4.5.2 Operation
4.5.3 Advantage & Strategy

Slected Charts

Value of Aircraft Manufacturing by Makeup
Models of Aircrafts Made in China and Their Engines
Aero-engine Industry Chain in China
Global Demand for Civil Aero-engine and Its Value, 2009-2028E
Demand for Engines Made in China in the Next 20 Years
Registered Number of General Aircrafts and Growth Rate in China, 2002-2020E
General Aircraft Structure in China by 2020
Investment Opportunities in Aero-engine Industry
Delivery Amount of Chinese Civil Aeroengines, 2006-2012E
Output Value of Chinese Civil Aeroengine Parts, 2005-2010E
Delivery Amount of Aeroengine Parts Produced by Subcontracts in China, 2005-2010E
Output Value of Maintenance of Chinese Civil Aeroengines, 2005-2010E
Revenue and Profit of GE Aviation, 2006-2010
Operating Margin of GE Aviation, 2006-2010
Operating Income, Operating Profit and Growth Rate of P & W, 2008-2010
Operating Margin of P & W, 2008-2010
Operating Income, Operating Profit and Growth Rate of Rolls-Royce in Civil Aviation, 2006-2010
Civil Aviation Business Structure of Rolls-Royce, 2006-2010
Operating Income, Net Income and YoY Growth Rate of Xi'an Aero-Engine, 2006-2010
Prime Business Structure of Xi'an Aero-Engine, 2008-2010
Gross Margin of Xi'an Aero-Engine by Business, 2008-2010
Operating Income and Growth Rate of Xi'an Aero-Engine and Shenyang Liming, 2007-2012E
Operating Income, Net Income and Growth Rate of AVIC Aero-Engine Controls, 2006-2010Q1
Operating Income, Net Income and YoY Growth Rate of Sichuan Chengfa Aero-Science & Technology, 2006-2010
Prime Business Structure of Sichuan Chengfa Aero-Science & Technology, 2008-2010
Profit Margin of Sichuan Chengfa Aero-Science & Technology by Business, 2008-2010
Operating Income, Net Income and Growth Rate of Beijing Cisri-Gaona Materials and Technology, 2006-2010
Prime Business Structure of Beijing Cisri-Gaona Materials and Technology, 2009-2010
Gross Margin of Main Business and Consolidated Gross Margin of Beijing Cisri-Gaona Materials and Technology, 2009-2010
Operating Income, Net Income and Growth Rate of Sichuan Haite High-Tech, 2006-2010
Operating Income Structure of Sichuan Haite High-Tech, 2009-2010
Gross Margin of Main Business of Sichuan Haite High-Tech, 2009-2010