Airbus forecast: China needs over 9440 new aircraft by 2042 | China | needs
Airbus released its latest global market forecast on the 27th, stating that by 2042, China will need over 9440 new passenger and cargo aircraft, accounting for 23% of the total global demand for new aircraft during the same period. In the next 20 years, the average annual growth rate of China's air passenger volume will reach 5.2%, and the world will need over 40850 new aircraft.
Airbus predicts that in the next 20 years, new passenger and cargo aircraft delivered to China will include 8020 single-aisle aircraft represented by A220 and A320 series aircraft, and 1420 wide-body aircraft represented by A330neo and A350 aircraft. About 75% of the new aircraft will be used for market growth and 25% will be used to replace aircraft currently in service.
"Since the beginning of this year, as China's economy and society have fully resumed normal operations, the Chinese aviation market has shown a strong momentum of recovery." Xu Gang, Airbus's global executive vice president and CEO of Airbus China, believes that the delivery of a new generation of efficient aircraft represented by the A320neo series aircraft and the A350 to Chinese customers will help the sustainable development of China's civil aviation market.
Airbus predicts that by 2042, the number of flights per capita in China will increase from 0.5 to 1.7. The main driver of future growth in air traffic is expected to come from personal consumption by the growing middle class.
In the past few decades, Airbus has provided China with a modern and comprehensive series of civil aircraft products on the market, and China has become Airbus's largest single country market in the world. As of the end of June 2023, Airbus's in-service fleet in mainland China reached 2175 aircraft, accounting for 54% of the market share.