European aircraft maker Airbus forecast Nov. 22 that the global market for aircraft will reach $2.6 trillion in value by 2025, with total production at 22,700 planes. Emerging markets and low-cost airlines will account for a large part of the growth, Airbus said.
Rising global aircraft output will help meet a 4.8% annual increase in passenger traffic and a 6% annual rise in freight traffic, according to the group's forecasts. The vast majority of the 22,700 planes -- around 21,900 -- would be built to transport more than 100 people. The number of wider airplanes, such as the Airbus A380, would reach 1,660, worth an estimated $503 billion, of which 1,260 would be passenger planes and the rest freight.
"Over the next 20 years the number of passenger aircraft will more than double," Airbus Chief Operating Officer - Customers John Leahy said. "Since 2000, new operators, as well as strong economic growth especially in emerging economies, have fuelled expansion of nearly 30% in available seats."
"This trend is continuing, with the Asia-Pacific region expected to grow to a third of the worldwide market by 2025," he added.
Copyright Agence France-Presse, 2006
