Aviation is an increasingly integral part of life, bringing people closer together.
As the world’s emerging markets continue to grow and new business models expand,
airplane manufacturers are seeing greater diversity in their customer base.
In 1994, airlines in Europe or North America carried more than 73 percent of all traffic.
By 2034, that share will shrink to 38 percent, with Asia Pacific and Middle East airlines
becoming prominent in global aviation.
The low-cost business model continues to drive growth in the single-aisle market.
Passengers have access to a wider range of destinations and the benefit of the speed and convenience that
flying offers over traditional modes of transportation. Meanwhile, new, efficient widebody airplanes are enabling smaller operators in developing markets to compete on longer routes that large foreign network carriers have traditionally dominated. The range and economics of these airplanes are dramatically expanding the number of long-haul nonstop city pairs offered. Rapidly evolving aviation services in emerging regions are broadening the geographical balance of airplane
demand, spurring a worldwide requirement for 38,050 new jet airplanes, valued at $5.6 trillion.
REGIONAL FOCUS
Each region will respond to its unique
situation and conditions with specialized
requirements. Middle East airlines
continue to favor widebody airplanes and
premium passenger services to leverage
the area’s geographic advantages and
prominence in business travel. Europe
and North America airlines will respond
to growing competition from low-cost
carriers by replacing older, fuel-inefficient
airplanes with more economical
single-aisle models. The large installed
airplane base in these areas generates
a need for a considerable number of
replacement airplanes, even though
growth is slower than in other parts of
the world. In Asia, rising demand will require a mix of single-aisle and widebody airplanes.
All regions will face similar challenges of fuel-price volatility,
emission control regimes, and ever-increasing airport
congestion as the growing world fleet works to keep pace with
burgeoning international and local demand for air travel.