China's answer to Airbus and Boeing has arrived by Benjamin Zhang on Nov 2, 2015, 12:19 PM Advertisement
 Boeing and Airbus now have a new competitor — from China. The Commercial Aircraft Company of China, or COMAC, rolled out its new C919 medium-range airliner. The twin-engined jet is China's answer to industry stalwarts, such as the Boeing 737 and the Airbus A320. The medium-range jet market is basically a duopoly split between Airbus and Boeing. However, the China aircraft maker is confident there's room for a third player in a global market that industry observers believe will have demand for 2,500 jets over the next 20 years. COMAC will not only have to deal with its lack of a reputation in the industry — it will also have to overcome the stigma of being a newcomer. "Flyers want to fly on planes with a track record for safety, reliability and comfort," Deloitte vice chairman Tom Captain told Business Insider earlier this year. "It takes decades to build that track record." However, Captain added that customers shouldn't immediately write off the Chinese company because its has established itself in the industry. "In the 1970s, Airbus was also an unknown upstart," Captain said. The Shanghai-based airplane maker introduced its new plane in a large ceremony at the company's production facility, located just north of the city. SEE ALSO: This Canadian giant is being haunted by its decision to challenge Airbus and Boeing This week, COMAC introduced its long-awaited C919 airliner. 
The ceremony marked the roll out of the company's first production C919 and featured appearances from numerous high-level government dignitaries. 
The C919 is COMAC's second aircraft since the company was formed in 2008 by the merger of eight Chinese government-owned entities. 
See the rest of the story at Business Insider
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