Asia airlines driving new aircraft investment
About 44,500 new aircraft are expected to be delivered over the next two decades, fuelled by Asia airlines.
It amounts to global expenditure of US$2.9 trillion.
The forecast published by Ascend by Cirium, says Asia is fuelling the demand.
Asia Pacific will account for over 40% of new deliveries.
“It shows a positive long-term outlook for aviation,” said Rob Morris, Global Head of Consultancy.
“The industry is undergoing structural changes, but remains on course to return to traditional growth by 2025.”
“These new aircraft will be required to meet demand, but also to replace less efficient types.”
Asia-Pacific demand is driven by China.
It is forecast to have the highest annual passenger growth rate at over 6%.
North American and European airlines are projected to account for 21% and 17% of deliveries respectively.