Now I will never completely count the Chinese out of anything. I have been amazed at how much money they can throw at a project, just look up the Three Gorges Dam, so it is entirely possible that they will get FAA approval for their C919, but that could be 5-10 years off and there is a lot of pitfalls ahead of them.
The biggest problem with a Chinese manufacturer is the public perception that everything that is made in china is cheap and of inferior quality. The perception of their multi-million dollar aircraft will be the same, even if most of their components were made by US suppliers. (Francis 2015) But if they do get FAA approval, I do not see them moving the needle on the US market, because of public perception of the quality of chinese made goods.
The Commercial Aircraft Corporation of China, or COMAC for short, is wholly owned by the Chinese government,(COMAC, n.d.) the same government that is certifying the aircraft and is probably putting some serious pressure on the airlines in China to buy the aircraft. You can see the conflict of interest here, and with the State owned media if there is an accident or just a problem with the aircraft I wouldn't expect to hear much about them. COMAC does have future plans for bigger aircraft, the C929 which will hold 290 passengers and the C939 which could hold up to 390 passengers. (globalsecurity, n.d.)
IF the airplane does enter the market, and that is a big IF, I do not see them entering the big markets of the US or even Europe. Designing an airliner from scratch is a HUGE undertaking and the way that they have done this, without having the input of the FAA or EASA, (Francis, 2015) will have a major impact on their certifications. I do see some of the ultra low budget carriers in third world areas buying some, just because of the low price, but the first time one goes down somewhere that the Chinese government can't control the media, that will be the end of the aircraft outside of China.
There haven't been many responses from Boeing or Airbus on the new C919, but that is because they do not see the plane as a serious threat to their businesses. As the Chinese are working to get the best out of the technology that exists now, Boeing and Airbus are designing new technology that will make anything the Chinese make obsolete. Aircraft like the 737 MAX and the A320neo are already erasing any competitive advantage that the 919 may have had. (Francis, 2015)
COMAC. (n.d.). Company Profile_Commercial Aircraft Corporation of China, Ltd. Retrieved from http://english.comac.cc/aboutus/introduction/
Francis, L. (2015, December 21). China’s Comac to challenge Boeing and Airbus - IEEE spectrum. Retrieved from http://spectrum.ieee.org/aerospace/aviation/chinas-comac-to-challenge-boeing-and-airbus
Globalsecurity.org. (n.d.). COMAC C929 / COMAC C939 large airliner. Retrieved from http://www.globalsecurity.org/military/world/china/c929.htm