Airbus Global Market Forecast predicts 31,400 aircraft needed over 20 years

According to Airbus’s Global Market Forecast, the next 20 years (2014-2033) will see passenger traffic grow annually at 4.7%, driving a need for around 31,400 new passenger and freighter aircraft (100 seats and above) worth US$4.6 trillion. The passenger and freighter fleet will increase from today’s 18,500 aircraft to 37,500 by 2033, an increase of nearly 19,000 aircraft. Some 12,400 older and less fuel-efficient passenger and freighter aircraft will be retired. “Aviation is growing impressively and our latest forecast confirms its long term growth. While mature aviation regions such as Europe and North America will continue to grow, Asia will