SAO PAULO -- Brazil's top aircraft maker Embraer said today it sees Asia-Pacific air travel providing jet makers with a $70 billion growth opportunity over 20 years.
Embraer (IW 1000/654), the world's third largest commercial aircraft manufacturer behind Boeing (IW 500/14) and Airbus (IW 1000/52), said it foresees delivery of 1,500 70-to-130-seat commercial jets to the region, including China.
That represents 20% of global demand for the period for that segment of the jets market, Embraer said in a statement issued on the sidelines of the Singapore Airshow.
"Air traffic in the Asia-Pacific region is above all made up of secondary markets with demand of low and average density for up to 300 passengers a day in both directions," said Paulo Cesar Silva, president of Embraer's Commercial Aviation division.
"Some 60% of these markets are not served non-stop," said Silva, adding half also did not allow for same-day return flights. "Embraer's E-Jets allow for development of a better traffic feeding system and a better connection to the flight network."
Embraer said some 60% of the projected deliveries would serve to support growth of air services in the region and be worth an estimated $70 billion to manufacturers.
The remainder would replace old aircraft being progressively withdrawn from service.
Embraer sees demand for air travel in the region rising an annual 6% through 2032.
"The region is going to become the world's largest market with 34% of passengers as measured by kilometer transported," the company said.
The company's statement came two days after Boeing said the Asia-Pacific region will require almost 13,000 new planes worth $1.9 trillion over the next 20 years as booming wealth fuels demand for air travel.
Embraer further revealed it holds more than an 80% stake in the Asia-Pacific market as a whole.
In 2013, the company delivered 209 commercial and business jets and had an order book comprising $18.2 billion of agreed deals at year end.
Copyright Agence France-Presse, 2014