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Airbus sees growing jet market on booming Chinese demand

2014-09-26 10:35 Xinhua Web Editor: Qin Dexing

European aerospace giant Airbus on Thursday expected faster growth in aircraft market on booming Asian demand, mainly in China set to top aviation markets.

In its Global Market Forecast, Airbus forecast passenger traffic to increase by 4.7 percent per year between 2014 and 2033 "driving a need for around 31,400 new passenger and freighter aircraft worth 4.6 trillion US dollars."

"Aviation is growing impressively and our latest forecast confirms its long term growth. While mature aviation regions such as Europe and North America will continue to grow, Asia will stand out along with emerging markets for dynamic development," said John Leahy, Airbus Chief Operating Officer, Customers.

"This growth trend is confirmed by Chinese domestic traffic becoming the world's number one aviation market within the next 10 years," he added.

In advanced economies, international traffic flows will be the fastest growing. In the emerging economies of Latin America, Africa and Asia Pacific, intra-regional and domestic flows will grow faster, estimated the aircraft manufacturer.

In its 20-year-forecast, Airbus expected "a continuing trend towards larger models, with aircraft flying on long haul routes and also on an increasingly wide range of regional and domestic sectors."

So as, it saw the need for more 9,300 wide body passenger and freighter aircraft over the next 20 years, worth 2.5 trillion US dollars and which represents 30 percent of all new aircraft deliveries over the next two decades and 55 percent by value.

The wide body demand would include some 7,800 twin aisle aircraft with between 250 and 400 seats and some 1,500 very large aircraft with over 400 seats for operation on the busiest routes, with almost half of the new passenger wide bodies will be delivered to carriers based in the Asia-Pacific region, then the Middle East, Europe and North America, according to Airbus.

"We see especially strong growth in wide body twins such as our A350 XWB and A330neo. Demand exceeds supply for these new generation aircraft, especially in the 2017 to 2022 time period and beyond, so naturally we are studying production increases on both models," said Leahy.

As to single aisle market, Airbus raised its 20-year demand forecast to over 22,000 units, up by 2,000 aircraft compared to the previous estimate with a value of 2.1 trillion US dollars.

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