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Airlines from the Asia-Pacific region will take delivery of about 9,870 new aircraft in the next 20 years, comprising 35 percent of all new aircraft deliveries worldwide, Airbus SAS said in its market forecast for the region on Tuesday.
The deliveries will be valued at $1.6 trillion, with the value accounting for 40 percent of the global market for new airliners, the manufacturer said.
In the passenger market, the number of aircraft operated by carriers in the region is expected to rise from 4,300 to 10,440 in the next 20 years, based on an average annual traffic growth of 5.8 percent.
Airbus also predicts that airlines in the region will buy some 3,840 wide-bodied aircraft in the next 20 years, leading global demand for larger and more eco-efficient planes, as such aircraft will overcome airport constraints in the region.
"The Asia-Pacific market is where the action will be in the air transport market over the next 20 years," said John Leahy, Airbus’ chief operating officer, customers. "Growing economies, bigger cities and increasing wealth will see more people flying, driving the need for larger and more efficient aircraft."