(CercleFinance.com) – The Asia-Pacific region will need 17,620 new passenger and cargo aircraft over the next 20 years, due to passenger traffic growth of 5.3% per year and accelerating the retirement of older, less fuel-efficient aircraft.
Of the demand for 17,620 aircraft, 13,660 belong to the small aircraft category such as the A220 and A320 families. In the medium and long haul categories, Asia-Pacific will continue to drive demand with some 42% of global requirements.
Cargo traffic in Asia-Pacific will also grow by 3.6% per year, well above the global average of 3.1%, leading to a doubling of air cargo in the region by 2040.
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