SINGAPORE, Feb 15 — Traffic growth of 5.3 per cent per annum and accelerated retirement of older less fuel-efficient aircraft will see the Asia-Pacific region require 17,620 new passenger and freighter aircraft by 2040, according to Airbus.
“Nearly 30 per cent of these will replace older less fuel-efficient models,” the European aircraft manufacturer said in its latest report released here yesterday.
It said in a region that is home to 55 per cent of the world’s population, China, India and emerging economies such as Vietnam and Indonesia would be the principal drivers of growth in Asia-Pacific.
The report said the region’s gross domestic product (GDP) would grow at 3.6 per cent per year compared to the world average of 2.5 per cent and double in value by 2040.
“The middle class, who are the likeliest to travel, will increase by 1.1 billion to 3.2 billion and the propensity for people to travel is set to almost triple by 2040,” it said.
According to Airbus, of the 17,620 aircraft in demand, 13,660 are in the small category like the A220 and A320 family.
It said in the medium and long-range categories, Asia-Pacific would continue to drive demand with some 42 per cent of global requirements.
“This translates to 2,470 medium and 1,490 large category aircraft,” it said.
It said cargo traffic in Asia-Pacific would also increase at 3.6 per cent per annum, well above the global 3.1 per cent average, and would lead to a doubling in air freight in the region by 2040.
Globally, Airbus said express freight boosted by e-commerce would grow at an even faster pace of 4.7 per cent per year.
It said overall, reflecting that strong growth over the next 20 years, there would be a need for some 2,440 freighters, of which 880 will be new-build.
“We are seeing a global recovery in air traffic and as travel restrictions are further eased, the Asia-Pacific region will become one of its main drivers again,” chief commercial officer and head of Airbus International Christian Scherer said.
“We are confident of a strong rebound in the region’s traffic and expect it to reach 2019 levels between 2023 and 2025,” he said.
He said with an ever-greater focus on efficiency and sustainable aviation in the region, Airbus’ products are especially well-positioned.
“Our modern portfolio offers a 20-25 per cent fuel burn and therewith carbon dioxide (CO2) advantage over older generation aircraft and we pride ourselves that all our aircraft products are already certified to fly with a blend of 50 per cent sustainable aviation fuel (SAF), set to rise to 100 per cent by 2030.
“In addition, our newly launched A350F offers efficiency gains of 10 to 40 per cent compared to any other large freighter, existing or expected, both in terms of fuel consumption as in CO2 emissions,” he added.
— Bernama
