As a successful conclusion to the challenging business year of 2021, we have received the type approval of our Fusion UL aircraft from the Chinese Civil Aviation Authority (CAAC)! The Chinese market is strategically important, and obtaining this type certificate is a result of long and hard work. With this certification, Magnus Aircraft is the second European Union-based manufacturer to enter the dynamically developing Chinese aviation industry, which is a major achievement from such a young manufacturer.
Civil aviation in China has evolved a great deal over the past 10 years, with the country spending around $ 10 billion on airport construction, development and management. Investment is also included in the current 5-year plan, including the construction of two new regional airspace control centers. The market is expanding quickly with 4,165 aircraft sold in 2020, according to a CAAC report. The market for ultralight and light aircraft, has grown by almost 10% year-on-year since 2016, which was halted by the pandemic for only a few months. The COVID situation in China has also brought private aviation to the forefront, so the industry expects the market to recover from 2022 to an annual growth rate of around 10% - similarly as during each year since the middle of the previous decade. Interestingly, this figure is almost identical to the growth data of the Chinese luxury car market, where annual growth of 9-10% was also measured. So we expect that as the development of industry, commerce and earnings allows private aviation as an alternative mode of transport to be integrated into people’s daily lives in the coming years.
Our Chinese subsidiary, Magnus China, is responsible for selling Magnus Fusion aircraft in the region and will be able to start operating with the certificate.