Airlines in the Asia-Pacific region will take delivery of around 9,370 new aircraft over the next 20 years, according to the latest market forecast by Airbus. Valued at US$1.3 trillion, the deliveries will account for 34 per cent of all new aircraft with more than 100 seats entering service worldwide over the forecast period, with the region overtaking North America and Europe as the world’s largest air transport market.
The latest forecast for the region was presented today at the Singapore Airshow by John Leahy, Chief Operating Officer, Customers, Airbus.
In terms of growth, Airbus expects the number of passengers carried by Asia-Pacific airlines to rise by 5.9 per cent per year, compared with the global average of 4.8 per cent. In the freight market, the amount of cargo carried by air through the region will increase by 5.6 per cent annually, compared a global increase of around 5.1 per cent. Meanwhile, airlines in the region will replace 76 per cent of the 4,270 aircraft currently in service, with the overall in-service fleet comprising some 9,965 passenger aircraft and around 820 freighters by 2030.
Reflecting the concentration of growing populations around the main urban centers, Airbus predicts that the region will continue to lead global demand for wide-body aircraft as the most efficient way to meet rising traffic and overcome capacity constraints at airports. This, combined with replacement needs, will see carriers in the region acquire around 3,650 new wide-body aircraft, representing 42 per cent of all wide-body deliveries worldwide. These will include some 730 very large aircraft, such as the A380, for the busiest routes and around 2,920 mid-size wide-bodies, such as the A330 and new A350 XWB, for medium capacity long range and regional services.
The latest Airbus forecast sees demand for single aisle aircraft in the region accelerating in the coming years, largely driven by the significant incremental growth in the low cost sector. This, combined with replacement needs and continued demand on secondary short haul routes, especially in China and India, will see a requirement for some 5,720 new single aisle aircraft in the region, such as the best-selling A320 Family.
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