In Airbus’ most recent Global Market Forecast, the European aircraft manufacturer projected that the global aviation sector will generate a demand for 3,000 freighters by 2031. This figure, which represents a near doubling of the global freighter fleet, will be propelled by increased urbanization and economic growth in emerging regions, according to Airbus.
Overall, Airbus estimated that the industry will necessitate 28,200 passenger and freighter aircraft, valued at $4 trillion, by 2031. The Asia-Pacific will lead the world in aircraft demand, accounting for 35 percent of aircraft deliveries, followed by Europe and North America; the latter regions will each account for 21 percent of the projected deliveries, according to the report.
China will be the biggest player in the global aviation market, Airbus forecasted, followed by the U.S., the United Arab Emirates and India. In fact, John Leahy, Airbus’ chief operating officer of customers, stated, “In 20 years from now, China’s domestic passenger traffic will overtake the U.S. domestic traffic to become the No.1 traffic flow in our forecast.”
“Aside from growth in international traffic, by 2031 four of the world’s biggest traffic flows will all be domestic — U.S., China, intra-Western Europe and India — and these account for a third of world traffic,” Leahy added. “Aviation is not just essential for international commerce, but also for domestic economies too.”
Airbus also detailed the projected demand for each aircraft type in the market forecast. According to the GMF, the industry will see more than 19,500 single-aisle aircraft deliveries by 2031, a load valued at more than $1.6 trillion. The report said twin-aisle planes will account for the second most popular aircraft, with Airbus projecting roughly 6,970 new passenger and freighter deliveries in the next two decades.
Finally, Airbus expects more than 1,700 very-large aircraft deliveries by 2031.