Asia-Pacific to need 19,500+ new planes in next 20 years
What's the story
Airbus has announced that the Asia-Pacific region will need a whopping 19,560 new narrow-body and wide-body aircraft over the next two decades. The demand is mainly driven by India and China. The number accounts for nearly half (46%) of the global demand for new aircraft during this period. Airbus Asia Pacific President Anand Stanley said both countries are driving a major portion of this growth.
Growth drivers
Rising passenger traffic fuels aircraft demand
The Asia-Pacific region is set to witness an annual passenger growth of 4.4%, exceeding the global average of 3.6%. India, one of the world's fastest-growing civil aviation markets, has seen airlines placing huge orders as they expand their fleets to meet rising traffic demand. At the Association of Asia-Pacific Airlines's (AAPA) Annual Assembly in Bangkok, Airbus presented its forecast for future aircraft requirements in this rapidly growing region.
Aircraft forecast
Asia-Pacific's future aircraft needs
Airbus predicts that the Asia-Pacific region will need some 3,500 wide-body planes in the next two decades. This figure accounts for 43% of global demand for larger aircraft types. The region is also expected to require around 16,100 single-aisle aircraft during this period, accounting for 47% of new deliveries worldwide. Stanley said the Asia-Pacific region is entering an exciting phase of growth with these numbers.
Delivery impact
Aircraft deliveries to support fleet expansion and decarbonization
Airbus also revealed that nearly 68% of the aircraft deliveries will support fleet expansion. The remaining 32% will replace older models, significantly contributing to decarbonization efforts. The next generation of Airbus wide-body aircraft promises an immediate 25% improvement in fuel efficiency and a corresponding reduction in carbon emissions. Stanley highlighted network development, low-cost carrier penetration, and infrastructure as major drivers for air travel growth in the region.