Advancing UK Aerospace, Defence, Security & Space Solutions Worldwide
  • Home
  • /
  • Aerospace
  • /
  • Nearly 35,000 aircraft worth $5.3tn required in next 20 years

Aerospace

Nearly 35,000 aircraft worth $5.3tn required in next 20 years

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% 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% for replacement of less fuel efficient aircraft.

Advertisement
Farsound RT 2

A doubling in the commercial fleet over the next 20 years sees a need for 530,000 new pilots and 550,000 new maintenance engineers, and provides Airbus’ global services business a catalyst to grow. 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% 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% 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.”

Advertisement
ODU RT 2

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

In the twin aisle segment, Airbus forecasts a requirement for some 10,100 aircraft valued at $2.9 trillion.

In the single aisle segment,  Airbus forecasts a requirement for some 24,810 aircraft valued at $2.4 trillion.

Advertisement
General Atomics LB
British Airways and Virgin Atlantic CEOs to speak at Sustainable Skies World Summit 2024

Aerospace

British Airways and Virgin Atlantic CEOs to speak at Sustainable Skies World Summit 2024

28 March 2024

Aviation leaders Shai Weiss, CEO of Virgin Atlantic and Sean Doyle, CEO of British Airways as keynote speakers at the Sustainable Skies World Summit 2024.

Airframe Designs helps to lead additive manufacturing industry body

Aerospace

Airframe Designs helps to lead additive manufacturing industry body

27 March 2024

Airframe Designs has joined a national industry body to help lead the development of additive manufacturing and 3D printing in the UK.

Leonardo secures presence at Bahrain International Airshow

Aerospace Defence Events

Leonardo secures presence at Bahrain International Airshow

26 March 2024

Italian aerospace, defence and security firm, Leonardo has secured its presence at the Bahrain International Airshow for the seventh year.

Made Smarter and tech institutes to demystify digital transformation

Aerospace

Made Smarter and tech institutes to demystify digital transformation

26 March 2024

Made Smarter and leading technology demonstrators have joined forces to demystify digital transformation with a new white paper.

Advertisement
Advanced Navigation RT
Britten-Norman secures new investment

Aerospace

Britten-Norman secures new investment

25 March 2024

Britten Norman has secured new investment from a group of investors led by 4D Capital Partners LLP (“4D”) The new investors are making funds available to Britten-Norman to fund working capital and to drive successful long-term growth.

First disability flying lessons to be launched at Kent airport

Aerospace

First disability flying lessons to be launched at Kent airport

25 March 2024

The UK’s disabled flying charity Aerobility has partnered with Lydd Aero Club in Kent to provide opportunities for lessons and experience flights for people living with disabilities, at Kent airport.

Advertisement
Farsound RT 2