By: Dylan Sikes - AllPennyStocks.com News

Tuesday, June 9, 2015

One of the world’s biggest aircraft manufacturers, Boeing Co. (NYSE:BA) noted in its Current Market Outlook that the aviation industry continually adapts to market forces. Boeing forecast long-term demand for 36,770 new airplanes. Out of these, 15,500 or 42% of all new deliveries will replace older, less efficient airplanes. One of the key drivers of aircraft demand has been fast-growing low-cost carriers, especially in emerging Asia. Boeing noted in its report that growth in emerging countries has continued to outpace that in developed economies. The aerospace giant further notes that overall, emerging markets, led by China and the Middle East, continue to grow faster than the global average.

Indeed, as for many other industries, China is a very important market for the aircraft and aircraft component manufacturers. Not surprisingly, several manufacturers of aircraft components are looking to gain a foothold in China. In fact, the U.S. Department of Commerce noted in a report that China’s rapidly expanding aviation industry presents many opportunities for U.S. exporters, particularly in the market for imported aircraft parts.

This morning Trans-Pacific Aerospace Company Inc. (OTCBB:TPAC), a development-stage company engaged in the business of designing, manufacturing and selling aerospace component parts for commercial and military aircraft, announced that it will commence full-scale production at facilities in Dongguan, China. TPAC has already obtained funding from Dr. Daniel Desta and Dr. Clairmont Griffith, who have been involved with the company for some time.

TPAC will form TPAC China, which will own 100% of the manufacturing company in China. TPAC China will be registered in Hong Kong. All the Chinese operations will be managed by TPAC China.

Dr. Griffith, who is also the co-founder of Trans-Pacific Aerospace Company, said that TPAC has three phases for success; the first being qualification approval of its products by NAVAIR, the second being obtaining funding for full-scale production, and the third being obtaining purchase orders. Dr. Griffith noted that the funding enables TPAC to establish full-scale production, which will give the company the ability to obtain purchase orders.

Dr. Desta, who is the owner and CEO of Lear Anesthesia Services, said that he believes in TPAC and its plan. Bill McKay, CEO of Trans-Pacific Aerospace Company, noted the advice of Dr. Griffith and Dr. Desta has been critical to TPAC’s progress and the company welcomes them as partners in TPAC China and will value their future contributions.

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