Wednesday, September 5, 2012
Airbus Forecasts Demand for 28,000 Aircraft By 2031
According to its global market forecast released Tuesday, Airbus sees a need for more than 28,000 new aircraft worth $4 trillion to keep up with air traffic growth over the next 20 years.
According to the report, passenger air traffic will grow at an average annual rate of 4.7 percent through 2031, with “emerging economic regions” accounting for more than half of all air traffic growth.
Airbus sees China as the single biggest market for newaircraft deliveries, followed by the United States, UAE and India.
“Aside from growth in international traffic, by 2031 four of the world’s biggest traffic flows will all be domestic – U.S., China, Intra Western Europe and India – and these account for a third of world traffic,” says John Leahy, Airbus chief operating officer, customers. “In 20 years from now, China’s domestic passenger traffic will overtake the U.S. domestic traffic to become the number one traffic flow in our forecast. Aviation is not just essential for international commerce, but also for domestic economies too.”
The report also predicts about 10,350 aircraft will be replaced by new efficient models by the year 2031.