LONDON,Sept. 4 (Xinhua) -- About 28,200 passenger and freighter aircraft are needed in the globe market between 2012 and 2031, Airbus said on Tuesday.
In its latest Global Market Forecast (GMF) published in London, the aircraft maker predicted passenger traffic will grow at an average annual rate of 4.7 percent in the next 20 years, during which some 10,350 aircraft will be replaced by new efficient models.
By 2031 the world's passenger fleet will expand by 110 percent from slightly over 15,550 today to over 32,550. In the same period, the world's freighter fleet will almost double from 1,600 to 3,000 aircraft.
According to the Global Market Forecast, emerging economic regions will represent more than half of all traffic growth in the next 20 years. Increasing urbanisation and the doubling of the world's middle classes to five billion people is also driving growth. By 2031 mega cities will more than double to 92 and over 90 percent of the world's traffic will be between or through these points.
"Aside from growth in international traffic, by 2031 four of the world's biggest traffic flows will all be domestic - U.S., China, Intra Western Europe and India - and these account for a third of world traffic," says John Leahy, Airbus Chief Operating Officer Customers.
"In 20 years from now, China's domestic passenger traffic will overtake the U.S. domestic traffic to become the number one traffic flow in our forecast. Aviation is not just essential for international commerce, but also for domestic economies too," he added.
The new order in the coming 20 years will worth nearly 4 trillion U.S. dollars, reconfirming an upward trend in the pace of new aircraft deliveries. Of these over 27,350 will be passenger aircraft valued at 3.7 trillion dollar. In value terms, the single biggest market is China followed by the United States, the United Arab Emirates and India.