The latest Global Market Forecast by Airbus identifies a need for more than 28,000 passenger and freighter aircraft by 2031 worth nearly $4 trillion (USD).
According to the forecast, passenger traffic will grow at an average rate of 4.7 per cent annually in the next 20 years, during which time, about 10,350 aircraft will be replaced by new efficient models. By 2031 mega cities will more than double to 92 and over 90 per cent of the world’s traffic will be between or through these points.
According to the forecast, passenger traffic will grow at an average rate of 4.7 per cent annually in the next 20 years, during which time, about 10,350 aircraft will be replaced by new efficient models. By 2031 mega cities will more than double to 92 and over 90 per cent of the world’s traffic will be between or through these points.
“Aside from growth in international traffic, by 2031 four of the world’s biggest traffic flows will all be domestic – US, China, Intra Western Europe and India – and these account for a third of world traffic,” says John Leahy, Airbus Chief Operating Officer Customers in a press release. “In 20 years from now, China’s domestic passenger traffic will overtake the US 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.”