Global Passenger Traffic To Grow 4.5 Pct Yearly In The Next 20 Years

KUALA LUMPUR, July 12 (Bernama) -- In the next 20 years beginning 2016, the global passenger traffic is expected to grow at an average 4.5 per cent a year, according to Airbus' Global Market Forecast. "This will drive the need for over 33,000 new aircraft above 100 seats (32,425 passenger & 645 freighters greater than 10 tonnes) worth US$5.2 trillion. "By 2035, the world's aircraft fleet will have doubled from today's 19,500 aircraft to almost 40,000. Some 13,000 passenger and freighter aircraft will be replaced with more fuel efficient types," it said in a statement. Urbanisation and increased wealth in emerging economies, particularly in Asia, would power air traffic growth and with a combined population of over six billion people, these economies would grow at 5.6 per cent per year and the propensity to travel would triple to 75 per cent of its population, the report said. Within 10 years, China's domestic air traffic would become the world's largest. In economies like Western Europe or North America, air traffic growth would be 3.7 per cent per cent. "While Gross Domestic Product (GDP) remains a key driver in traffic growth, we see private consumption (a component of GDP) becoming a more significant economic variable on some important flows including domestic China and domestic India. Middle classes in emerging markets will double to 3.5 billion people by 2035. "Globally, by 2035, 62 per cent of world population will be city dwellers and the number of aviation mega cities will rise from 55 to 93 by 2035," it said. Airbus' global services business which today spans six customer support centres, and 14 training centres is set to expand further as the next 20 years sees a requirement for some one million pilots and engineers (560,000 new pilots, 540,000 new engineers) to fly the and maintain the new aircraft. -- BERNAMA