in Aerospace

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

Posted 9 June 2017 · Add Comment

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.

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.”

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.

* required field

Post a comment

Other Stories
Advertisement
Latest News

QinetiQ brings autonomy expertise to European research programme

QinetiQ is to play a pivotal role in OCEAN2020, the first research programme awarded by the European Defence Agency as part of its European Defence Fund initiative.

Lincad wins Leonardo power management contract

Lincad, the British manufacturer of bespoke batteries, chargers and power management systems for military applications, is pleased to announce that it has won a further contract with Leonardo to supply batteries and other power

MAEL and Icelandair expand maintenance partnership

Monarch Aircraft Engineering (MAEL) has won an expanded maintenance commitment from Icelandair.

Oxford Airport hosts hullo launch

Following the successful introduction of the hullo Aircrew brand at EBACE last year, the technology start-up has officially launched its industry-first software platform at London Oxford Airport, which is designed to connect

Babcock to develop Busan base

Further strengthening its international reach and its presence in South Korea, Babcock International has announced that it is to open a facility in Busan, South Korea’s second largest city after its capital Seoul.

Innalabs secures €2.6m ESA contract.

InnaLabs has announced a €2.6m contract with ESA to design, develop, manufacture and test a highly reliable radiation hardened 3-axis gyroscope, used for measuring angular velocity or maintaining orientation of satellites.

ODU SK191217191218
See us at
Aviation Africa BT18418FIL18 BT111017220718S&P BT281117080318SMI FAVWSBT1402060618SMI HelicopterTBT1402240518SMI FAVSABT2411120418