PARIS - French tire giant Michelin announced Tuesday it was establishing a new company: MSAT, or the Michelin (Shanghai) Aircraft Tire Trading Co Ltd, to expand its aircraft tire business in China.

Michelin said the launch of MSAT aimed at improving service levels and product availability for its aviation customers in China, covering Air China, China Eastern, and China Southern, among others.

"This is an important step for our business in China and through MSAT we are confident that we can provide better service to our customers," Frank Moreau, president of Michelin's branch in aviation Michelin Aircraft Tire said.

Michelin's belief in the Chinese aviation market is reflected in predictions by the Aviation Industry Corporation of China which expects there to be an increase of more than 4,500 civilian aircraft over the next 20 years. By the year 2030, China's share of the global aircraft fleet will increase from 9 percent to 15 percent.

Headquartered in the French city of Clermont-Ferrand, Michelin is present in about 170 countries, has 111,700 employees and operates 68 production facilities in 17 countries, which together produced 184 million tires in 2015.