LONDON (Reuters) - Airbus sees demand for some 28,000 new aircraft worth $4 trillion to cater for air travel growth in the next 20 years, the European planemaker said on Tuesday.
By 2031, the global passenger plane fleet will rise to over 32,550 aircraft from 15,500 today, Airbus said, adding that the Asia Pacific region would account for 35 percent of all new aircraft deliveries in the next two decades.
Passenger traffic will grow at an average annual rate of 4.7 percent in the next 20 years, during which some 10,350 aircraft will be replaced by new efficient models, EADS EAD.PA-owned Airbus said.
“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,” Airbus sales chief John Leahy said.
“In 20 years from now, China’s domestic passenger traffic will overtake the U.S. domestic traffic to become the number one traffic flow in our forecast. Aviation is not just essential for international commerce, but also for domestic economies too.”
Reporting by Rhys Jones; editing by Rosalba O'Brien