Rolls Royce chairman predicts Chinese-made jet engines coming soon

Rolls Royce expects China to begin engine manufacturing for jumbo jets, company Chairman Ian Davis said at the Singapore Summit

PUBLISHED : Tuesday, 19 September, 2017, 5:30pm
UPDATED : Tuesday, 19 September, 2017, 5:31pm

The world’s second-largest economy will likely start manufacturing engines for jumbo jets soon, according to Rolls-Royce , a long-time engine manufacturer for commercial and defence aerospace.

“In the long-run, it’s very possible and plausible that China and other countries will be looking to develop wide-body engines,” said Rolls Royce Chairman Ian Davis at the Singapore Summit over the weekend. “It makes sense for industrialised countries to start doing so and we assume at some stage of the future that they will come in.”

The Shanghai-based Commercial Aircraft Corporation of China, or COMAC , has already begun the development of a narrow-body engine.

“It’s a big growth market and I think the key, as always, is to make sure you’ve got competitive products that really offer something to customers,” said Davis.

In addition to aerospace and cars, Rolls Royce’s other business segments include industrial products for the marine, nuclear and power sectors.

Davis said he continued to expect strong growth from the Middle East .

That market “is driven by aggressive strategies to attract traffic and ambitions to build a real hub in the region, not oil prices,” he explained.

Read the original article at CNBC