Asia Pacific still driving demand for air cargo

Airlines in the Asia-Pacific region will take delivery of around 9,370 new aircraft over the next 20 years, according to the latest market forecast by Airbus.

Valued at $1.3 trillion, the deliveries will account for 34 per cent of all new aircraft with more than 100 seats entering service worldwide over the forecast period, with the region overtaking North America and Europe as the world’s largest air transport market.

The latest forecast for the region was presented today at the Singapore Air Show by John Leahy, Chief Operating Officer, Customers, Airbus.

In the cargo sector, the region will continue to dominate the global market. According to the new forecast, the dedicated freighter fleet operated by Asia-Pacific airlines will grow from 300 today to some 820 in 2030, representing 30 per cent of the global freighter fleet. While many of the aircraft will be converted from passenger models, Airbus predicts that around 210 new production freighters will be delivered to the region over the next two decades. As in other world regions, around 40 per cent of the freighters will be in 60 – 70 tonne category served by mid-size widebody aircraft, such as the A330.

“We forecast strong growth for aviation in Asia and the Pacific. That’s good news for Airbus and the region alike. Asia-Pacific is second to none when it comes to current and future business prospects. And aviation growth will bring increased trade and significant wealth creation into the region,” said John Leahy, Chief Operating Officer, Customers, Airbus.

The Asia-Pacific region is a core market for Airbus, accounting for 26 per cent of all orders recorded by the company to date. Today, there are some 1,800 Airbus aircraft in service with over 80 operators across the region, with another 1,700 on order with customers for future delivery. This represents 38 per cent of the company’s total backlog, reflecting the importance of the region as the fastest growing market for new civil aircraft.

Washington, D.C-based Airfowarders Association (AfA) Executive Director Brandon Fried told LM, that while Asia remains a strong market for his constituents, other options are emerging.

“The industry is already seeing some softening in Asian markets where North American buyers are beginning to source products from closer in countries,” he said. “This means that as time passes, more opportunities will develop throughout Latin America as well.”