Airbus pitches 20-year market forecast at $3.2 trillion for 26,000 new jets
14 Dec 2010
The remarkable turnaround experienced by the aviation industry from the ravages of a global downturn and a massive hike in the price of oil earlier is reflected in new forecasts released by Airbus for 2010 when the manufacturer says that airlines will need nearly 26,000 new commercial jets, worth $3.2 trillion, over the next 20 years.
The prediction is part of its 2010 Global Market Forecast released Monday.
The forecast numbers are 900 more than its 2009 forecast, and raise the growth rate from 4.7 per cent to 4.8 per cent. However, the numbers are still below the 30,900 that American manufacturer, and arch-competitor, Boeing expects airlines to buy over the same period.
"The recovery is stronger than predicted and reinforces both the resilience of the sector to downturns and that people want and need to fly," John Leahy, Airbus chief operating officer Customers, said in a statement accompanying the report.
According to Airbus, the demand will arise primarily from replacement of older aircraft for newer, more eco-efficient models in mature markets, growth in emerging markets, low-cost carriers, market liberalization and capacity growth on existing routes.
"Our entire product range is very well positioned to meet the economic and environmental needs for sustainable growth for the decades ahead," Leahy said.
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