Airbus yesterday projected that Asia/Pacific airlines will take delivery of around 8,560 new aircraft valued at $1.2 trillion over the next 20 years, representing 33% of new aircraft deliveries worldwide over the forecast period. By 2030, the region will have surpassed North America and Europe to become the world’s largest air transport market.
In terms of growth, Airbus expects the number of passengers carried by Asia/Pacific airlines to rise by 5.8% per year while the amount of freight passing through the region will increase by 7% annually. This compares with global average increases of 4.8% in the passenger market and 5.9% for cargo Airbus stated.
The manufacturer projected that 78% of the 3,680 aircraft currently in service with Asia/Pacific airlines will be replaced over the next two decades. Airbus predicted aircraft acquisitions in the region will be driven by “the concentration of populations in the region around the main urban centers and the need for more seats between fast-growing mega-cities. The region will have a requirement for around 5,200 new 100-210 seat aircraft driven primarily by the growth of low-cost carriers as well as the opening of new secondary short-haul routes, especially in China, India and South East Asia. Airbus forecasts that the region’s dedicated freighter fleet will increase four times to 1,056 aircraft by 2030, it predicted that 270 new build freighters will be delivered to the region over the period, representing more than 30% of expected global demand for new production freighters.