Airbus (IW 1000/52), in its latest Global Market Forecast, predicted air traffic will increase 4.7% annually for the next two decades, driven by increased air transportation needs in emerging markets.
That means there will be demand for more than 29,220 new passenger and freighter aircraft, or $4.4 trillion in new aircraft.
Taking replacements into consideration, the worldwide fleet will double to nearly 36,560 aircraft.
"By 2032, Asia-Pacific will lead the world in traffic overtaking Europe and North America. Today on average, a fifth of the population of the emerging markets take a flight annually and by 2032, this will swell to two thirds," said John Leahy, Chief Operating Officer – Customers.
Infographic courtesy of Airbus.