Asia Pacific region needs more planes by 2040

The Asia Pacific region will need over 17,600 new aircraft by 2040 to accommodate passenger traffic growth and retirement of older fleet, says Airbus International. Passenger traffic growth of 5.3% per annum and the retirement of older, less fuel efficient aircraft will see the region require 17,620 new passenger and freighter aircraft. Airbus International CCO Christian Scherer is optimistic about the growth of aviation sector in the region. “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,” he said. In a region which is home to 55% of the world’s population, China, India and emerging economies such as Vietnam and Indonesia will be the principal drivers of growth in Asia Pacific. Meanwhile, the middle class – who are the likeliest group to travel – will increase by 1.1b to 3.2b. What this means is that the likelihood for people to travel is set to almost triple by 2040. The aforementioned statistics spell good news for an industry that’s been battered by Covid-19, said Scherer.<br/>