What does COMAC mean in COMPANIES & FIRMS
COMAC stands for Commercial Aircraft Corporation of China. It is a Chinese state-owned aerospace manufacturer based in Shanghai which was founded in May 2008. The company's main role is to focus on the research, development, manufacture and sales of commercial aircrafts and related products and services. COMAC has also set up several branches abroad, such as Russia, Canada and Ireland, in order to expand its commercial aircraft business. COMAC's current goal is to become an important player in the global aviation industry within two decades through technological innovation and international cooperation.
COMAC meaning in Companies & Firms in Business
COMAC mostly used in an acronym Companies & Firms in Category Business that means Commercial Aircraft Corporation of China
Shorthand: COMAC,
Full Form: Commercial Aircraft Corporation of China
For more information of "Commercial Aircraft Corporation of China", see the section below.
History
COMAC was established following the merger of the Shanghai Aircraft Manufacturing Factory (SAMF) and the Dongfanghong Aviation Industries Corporation (DACA) in May 2008. The newly formed company is a wholly owned subsidiary of Avic Aviation Industry Corporation of China Ltd (AVIC). COMAC's major shareholders include China South Industries Group Corporation (SINOGO), with a 24% stake; AVIC, with a 51% stake; Shanghai Jiaotong University Research Institute Co., Ltd., with an 11% stake; and Jinuo Holdings Limited, with a 14% stake. The rest are held by small investors.
Businesses
COMAC's core businesses include aircraft manufacturing, engine manufacturing, component parts supplies and maintenance services. Its major products include the ARJ21 regional jetliner and its variants; the C919 large passenger jetliner; cargo planes such as freighters; aerial systems such as drones; military aircrafts like fighters jets; engines for civil use such as turbofans; missile components like fire control systems mounted on missiles etc.; airframes for unmanned aerial vehicles (UAVs); avionics systems for planes and helicopters; ground support equipment like ground power units used during airport operations etc.; rescue boats used by fire departments for rescuing people at sea or coastal areas etc..
Goals
Currently, COMAC’s goal is to become an important presence in the global aviation industry within two decades through technological innovation and international collaboration. As part of this endeavor, COMAC’s ARJ21 regional jetliner was designed to meet global standards for regional air travel while providing comfortable convenience flights across Asia-Pacific region within 1000 km range. The C919 large passenger jetliner is being developed as a part of “China’s space dream” initiative where it will play an important role connecting passengers across long distances throughout China’s diverse geographical landscape. Other key goals include expanding production capacity significantly so that it can compete with other leading international aircraft manufacturers while upholding quality standards set forth by regulatory bodies such as CAAC (Civil Aviation Administration of China).
Essential Questions and Answers on Commercial Aircraft Corporation of China in "BUSINESS»FIRMS"
What is COMAC?
COMAC stands for Commercial Aircraft Corporation of China, a Chinese state-owned aerospace manufacturer based in Shanghai. The primary purpose of the company is to develop and produce aircrafts, including regional jets, commercial airliners, and military training jets.
What products does COMAC offer?
COMAC offers a wide range of products including regional jets such as the ARJ21, commercial airliners such as the C919 and AC312E twin-engine helicopters. Additionally, COMAC also produces military trainer jets like the FTX1.
How large is COMAC's production capacity?
COMAC has surpassed Airbus in terms of assembly line capacity with its new plant located in Shanghai. The company’s annual output capacity is currently estimated to be around 400 volumetric aircraft units per year.
Does COMAC have any partnerships with other companies?
Yes! In 2018, COMAC entered into joint venture agreements with Boeing and Safran Aircraft Engines (SAE). Additionally, they have also partnered with International Aero Engines (IAE), Rolls Royce and Honeywell International.
What role does government play in Comac's business activities?
Comac is completely owned by China’s Central Government and plays an active role in helping to develop China’s civil aviation industry. As a result, various government policies support their operations and growth initiatives.
Are there any safety concerns related to using Comac products?
All Comac products are subject to stringent safety tests during their design process before entering into mass production; Aviation safety regulators also ensure that all mandatory standards are met prior to product certification for public use.
Does Comac have plans to expand outside China?
Yes! As part of their long term strategy, Comac has already established offices in North America (United States) as well as Europe (France & Germany). There are also plans to open more offices throughout Asia over the next few years.
What types of customers does Comac typically target?
Primarily, Comac targets low-cost carriers that operate short haul routes such as Ryanair or Norwegian Air Shuttle. Furthermore, they also target corporate/business customers who may require private jet services for remote locations or special events.
Final Words:
Overall, COMAC has come a long way since its establishment in 2008 when it merged SAMF & DACA to form one large entity under AVIC umbrella corporation focusing on commercial aviation business activities exclusively towards making air travel more convenient & safe worldwide through technology advances & international collaborations aiming at achieving competitive excellence against leading players in the aviation industry globally over next two decades.