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Rolls Royce chairman predicts: Chinese-made jet engines coming soon
The world's second-largest economy will likely start manufacturing engines for jumbo jets soon, according to Rolls-Royce (London Stock Exchange: RR.-GB), a long-time engine manufacturer for commercial and defense 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 industrialized 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, 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.
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