Airbus has revised its 20-year demand forecast for jetliners. The world's largest planemaker predicts that the global fleet will more than double over the next two decades, reaching a staggering 48,230 planes. This projection, which is a 4% increase from the previous survey, highlights the company's confidence in the future of air travel. Airbus' report, released on Monday, outlines a significant shift in demand towards wide-body jets.
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These larger aircraft, capable of long-haul flights, have seen a sharp uptick in interest as airlines look to renew their fleets. This trend is particularly evident in Asia, where the company has trimmed its forecast by 2% for the Middle East due to reports of overcapacity. However, the demand for wide-body jets in other regions has increased, with Airbus revising up its total wide-body demand forecast by 9% to 8,920 units. The planemaker's predictions draw on economic forecasts suggesting that 1.7 billion people will join the middle class, with some income available for air travel, in the next 20 years.
This growth is expected to be particularly strong in Asia and the Middle East, led by India and China. Data issued with the Airbus report also highlighted the shift of attention to India, the most populous nation, with the top three fastest-growing traffic flows serving the Indian subcontinent. Despite these positive projections, Airbus acknowledges the challenges facing the aviation industry, particularly in terms of environmental sustainability. The company cites the development of greener fuels and the delivery of new jets, which are expected to contribute to lower emissions. However, these efforts contrast with the concerns of environmental groups, who have expressed worry over the industry's impact on climate change.
In conclusion, Airbus' revised forecast paints a picture of a robust and growing aviation industry, driven by the demand for wide-body jets and the economic growth of emerging markets. However, the company will need to navigate the complexities of environmental sustainability and overcapacity issues in certain regions to fully capitalize on these opportunities.