27 Feb 2020
Posted in Aerospace, Defense & Security
Mitsubishi moves closer to capitalize on Asia-Pacific commercial aircraft market, says GlobalData
Following today’s news (27th February) that Mitsubishi Aircraft Corporation, an MHI Group company, has completed its maiden flight with the first Pratt & Whitney GTF PW1200G engine assembled in Japan;
Mathew George, Defense Analyst at GlobalData, a leading data and analytics company, offers his view:
“The announcement comes at a time when the commercial aircraft market in the Asia-Pacific (APAC) region is expected to grow at a compound annual growth rate (CAGR) of 5.67% between 2019 and 2029, according to GlobalData. This is in contrast to the global market, which is forecast to witness a CAGR of -4.56% during the same period.
“With Pratt & Whitney GTF PW1200G engine, Mitsubishi is trying to close the gaps in its supply chain and manufacturing capabilities and move one step closer to the delivery of its regional transport aircraft, SpaceJet.
“GlobalData expects the present development to act as a fillip for Mitsubishi’s plans to deliver the SpaceJet and take part actively to capture a portion of the regional jet market, even being one of the top five suppliers in the segment.”