Asia-Pacific to lead demand for bigger, more efficient planes

Leaving behind Europe and North America, airliners from Asia Pacific region will lead the global demand for larger and more fuel efficient planes in next 20 years, according to latest forecast by Europe-based aircraft manufacturer Airbus.
The companies are expected to take delivery of around 9,870 new passenger and cargo aircraft, including 3,840 widebody ones, valued at USD 1.6 trillion, it said, insisting the Asia-Pacific market "is where the action will be" during the period.
This would be 35 per cent of all new aircraft deliveries worldwide over the next two decades, ahead of Europe and North America.
In terms of value, the region would account for 40 per cent of the global market for new airliners, reflecting the higher proportion of widebody aircraft required by Asia-Pacific carriers, the forecast said.

"The Asia-Pacific market is where the action will be in the air transport market over the next 20 years. Growing economies, bigger cities and increasing wealth will see more people flying, driving the need for larger and more efficient aircraft," said John Leahy, Chief Operating Officer (Customers) of Airbus while presenting the forecast in Singapore today.
Based on higher than average annual traffic growth of 5.8 per cent and replacement of nearly 3,500 aircraft in service today, the number of planes operated by Asia-Pacific carriers are expected to more than double in the next 20 years, from 4,300 aircraft today to a total of 10,440 jets.

With high levels of urbanisation in the Asia-Pacific region and air traffic continuing to remain concentrated around a growing number of major cities, larger aircraft would provide the most efficient means of meeting demand while overcoming airport constraints.