35,000 new planes required in the next 20 years: Airbus

TravelBizNews Online —

Paris: The European aircraft maker Airbus predicts the need for 35,000 new aircrafts valued at US$5.3 trillion over the next 20 years.

Airbus estimates a need for 530,000 new pilots and 550,000 new maintenance engineers over the next two decades.

The world’s passenger aircraft fleet above 100 seats is set to more than double in the next 20 years to over 40,000 planes as traffic is set to grow at 4.4 percent per year, according to Airbus’ latest Global Market Forecast 2017-2036.

“Over this period, increasing numbers of first time flyers, rising disposable income spent on air travel, expanding tourism, industry liberalisation, new routes and evolving airline business models are driving a need for 34,170 passenger and 730 freighter aircraft worth a combined total of US$5.3 trillion. Over 70 percent of new units are single aisle with 60 percent for growth and 40 percent for replacement of less fuel efficient aircraft.”

Airbus has expanded its global network of training locations from five to 16 in the space of three years

Air traffic growth is highest in emerging markets such as China, India, the rest of Asia and Latin America and almost double the 3.2 percent per year growth forecast in mature markets such as North America and Western Europe.

Emerging markets currently home to 6.4 billion of the world’s 7.4 billion population will account for nearly 50 percent of the world’s private consumption by 2036.

“Air travel is remarkably resilient to external shocks and doubles every 15 years,” said John Leahy, Chief Operating Officer – Customers, Airbus Commercial Aircraft.

 “Asia Pacific continues to be an engine for growth, with domestic China to become the world’s largest market. Disposable incomes are growing and in emerging economies the number of people taking a flight will nearly triple between now and 2036.”

Over the next 20 years Asia Pacific is set to take 41 percent of new deliveries, followed by Europe with 20 percent and North America at 16 percent.

Middle class numbers will almost double to nearly five billion as wealth creation makes aviation even more accessible particularly in emerging economies where spending on air travel services is set to double according to Airbus .

June 10, 2017