HONG KONG — Airbus said on Sept. 15 that it anticipates a global need for approximately 42,000 new aircraft over the next two decades, with the Asia-Pacific region accounting for 45 percent of deliveries.
Airbus Asia-Pacific President Anand Stanley said the company has observed no softening in aircraft demand or deliveries despite geopolitical tensions and supply chain headwinds. "We continue to see strong demand," Stanley said, adding that Airbus sees "a strong readiness to take deliveries and a strong uptick in deliveries across the board," extending beyond Asia-Pacific to the Middle East.
Francois Cabaret, Airbus' head of global market forecast, said Chinese airlines face a substantial effort in fleet renewal. China represents Airbus's single largest market for commercial jets.
Before the COVID-19 pandemic, Chinese airlines received about 400 aircraft deliveries annually. Combined deliveries from Airbus, Boeing, and Chinese manufacturer COMAC have since fallen to less than half that rate, Cabaret said.
Airbus projects China will require 8,830 new passenger aircraft over the next 20 years to meet growing aviation needs and replace older models. India is projected to need 3,480 new passenger aircraft, while the remaining Asia-Pacific countries are expected to require 6,880 new passenger jets.
Airbus raised its domestic traffic growth forecast for India to 9.3 percent, up from 8.9 percent, as the country maintains its position as the world's fastest-growing air travel market. The company adjusted its forecast for China downwards to 4.7 percent from 5.4 percent, though it remains a critical market for global aviation.
