Asia-Pacific will take delivery of almost 10,000 aircraft over 20 year, Airbus says.
Asia-Pacific market is expected to take delivery of 9,870 new passenger and cargo aircraft valued at USD 1.6 trillion over the next two decades, a plane manufacturer says.
European plane manufacturer Airbus said in a statement on Monday that Asian carriers would double the number of their planes over the next 20 years, from 4,300 planes today.
Airbus also said that the Asian companies would account for 35 percent of worldwide deliveries, ahead of Europe and North America. In terms of value, the region would account for 40 percent of the global market.
“Everything is going to grow, but the shift to Asia-Pacific in terms of market share and market presence is going to be enormous,” said John Leahy, the chief operating officer at Airbus.
“Growing economies, bigger cities and increasing wealth will see more people flying, driving the need for larger and more efficient aircraft,” he added.
The plane manufacturer estimated 28,200 new aircraft deliveries worldwide with a market value of USD 4.0 trillion in the period.
Leahy stated that regional markets like China and India and growing middle class would increase demand for new aircraft.
According to Airbus estimates the size of middle class family in the region would increase from 746 million in 2011 to 3.4 billion in 2031.
SAB/JR
