Airbus now projects that the airline industry will need almost 26,000 new passenger and freighter aircraft valued at $3.2 trillion between 2010 and 2029, according to the company’s most recent Global Market Forecast (GMF). Released this week, the latest GMF projects a demand for 900 more passenger aircraft–primarily in the single-aisle sector–than predicted in last year’s Airbus forecast, reflecting a slightly higher projected annual growth rate of 4.8 percent, compared with last year’s projection of 4.7 percent. The company now predicts a 20-year demand for almost 17,900 single-aisle aircraft worth some $1.274 trillion.
Airbus’s optimism stems from expectations for accelerated replacement of aircraft for newer, more eco-efficient models in mature markets; “dynamic” growth in new, emerging markets; the continuing rise of low-cost carriers, particularly in Asia; further market liberalization and capacity growth on existing routes.
