THE Asia-Pacific region will drive demand for larger and more eco-efficient aircraft over the next 20 years, accounting for 35 per cent of new airline deliveries globally or approximately 9,870 aircraft totalling US$1.6 trillion.
But in terms of value, the region will make up 40 per cent of the global market for new planes, due to the higher proportion of widebody aircraft required by Asia-Pacific airlines.
These predictions were made by aircraft manufacturer Airbus and derived from the company’s Global Market Forecast. The report estimates that in two decades’ time, the region will need capacity for 28,200 passengers as well as freighter aircraft valued at nearly US$4.0 trillion.
In the passenger market, the number of aircraft operated by Asia-Pacific carriers is expected to more than double from 4,300 today to 10,440, based on above average annual traffic growth of 5.8 per cent and replacement of 3,500 planes today.
Airbus predicts that traffic will remain concentrated around a growing number of major cities, which would call for 3,840 widebody aircraft accounting for 44 per cent of worldwide demand in the larger aircraft categories, to meet travel needs.
Meanwhile, Airbus also foresees the number of single aisle aircraft accelerating in future, driven by ongoing growth in the low-cost sector that has expanded at seven per cent annually in the last decade. Growth and replacement will spawn demand for 6,030 new single aisle aircraft.
“The Asia-Pacific market is where the action will be in the air transport market over the next 20 years,” said John Leahy, COO, customers, Airbus.
“Growing economies, bigger cities and increasing wealth will see more people flying, driving the need for larger and more efficient aircraft.”
Asia-Pacific currently accounts for 31 per cent of all Airbus orders recorded to date.
