The global aviation industry will create a demand for 900 new freighters by 2030, Airbus officials estimate in their latest Global Market Forecast. This projection, combined with the expected demand for 26,900 new passenger planes, signals good news for a sector that has been affected by the recent economic downturn.
The price tag for the anticipated 27,800 new passenger and cargo planes is $3.5 trillion, according to Airbus officials. Fuel-efficient craft will top carriers’ wish lists, with 10,500 of these planes replacing eco-inefficient jets, they estimated.
The number of aircraft isn’t the only increase anticipated in Airbus’ Global Market Forecast, however. Representatives for the aircraft manufacturer projected that airline traffic will more than double in the next two decades, with revenue passenger kilometers increasing 4.8 percent per year.
Airbus officials anticipate that the Asia-Pacific will lead the world in aircraft demand, necessitating 34 percent of the new planes. North America and Europe are expected to trail behind the Asia-Pacific, both accounting for 22 percent of the 27,800 planes.
Driving the aircraft demand will be population growth, urbanization and the proliferation of low-cost carriers, Airbus representatives said. It’s why Airbus Chief Operating Officer, Customers John Leahy is so optimistic about the health of the global airline industry.
“The aviation sector is an essential element for today’s global economy, which is why more people than ever need and want to fly,” Leahy said in a statement. “Airbus is bringing to market the latest innovations and eco-efficient products to satisfy the needs of airlines and the expectations of passengers now and in the years to come.”