There’s been a quietly growing interest which has now grown loud, for luxury jet travel in China, as a new class of super rich are flocking to the private jet world. And worldwide carriers and manufacturers are taking advantage of it by expanding their footprints in the country by forming partnerships with Chinese companies. The rapid growth of the Chinese economy has produced a new set of millionaires estimated to be over 65,000 with a net worth of approximately $20 million, and about 13% of them say they may be in the market for their own aircraft. That’s a lot of planes.
 Great wall of China |
 Shenzhen China population 10 million |
In the short time since 2003 when China began allowing private plane ownership, Chinese millionaires have been buying private jets nearly as quickly as they can get them delivered. When a new Chinese jet dealership opened in March, they sold 14 jets in the first three days. Because executives are excited to take advantage of the benefits of flying private, the majority of the growth is in the business jet segment, but private ownership is significant and those buyers are more prone to want their jets custom designed with exotic finishes and gadgets.
Currently, there are about 200 private jets within China, compared to around 220,000 in the U.S., but within the decade, the Chinese market is expected to grow 10 times, propelling China to become the third largest market for private aircraft after Europe and the United States, which currently has 40% of the world market. The growth has happened so fast that there’s an infrastructure issue with a lack of airports, but China is committed to building them rapidly and it is expected they will match or exceed the growing need. Currently there are less than 100 private airports in China, while the United States has over 5000. And the fact that the military currently controls 70% of the airspace is presenting a logistical challenge, but as China embraces the new business that the jet industry brings, operational controls will shift and airspace will be opened as China continues to compete on another playing field in the world market.
