As aviation becomes increasingly accessible in all parts of
the world, future Journeys will increasingly be made by air particularly to and
from emerging markets. According to Airbus’ latest Global Market Forecast (GMF)
in the next 20 years (2013-2032), air traffic will grow at 4.7 per cent annually
requiring over 29,220 new passenger and freighter aircraft valued at nearly
US$4.4 trillion. Some 28,350 of these are passenger aircraft valued at US$4.1
trillion. Of these, some 10,400 will replace existing aircraft with more
efficient ones. With today’s fleet of 17,740 aircraft, it means that by 2032,
the worldwide fleet will double to nearly 36,560 aircraft.
Economic growth, growing middle classes, affordability, ease
of travel, urbanisation, tourism, and migration are some factors increasing
connectivity between people and regions and how often they travel. Increasing
urbanisation will lead to a doubling of mega cities from 42 today to 89 by 2032,
and 99 per cent of the world’s long-haul traffic will be between or through
these.
