Embraer: AsiaPac air traffic to grow above world average over next 20 years
21 February 2008
Embraer has said that it expects commercial air traffic in the Asia-Pacific region to grow at an annual rate of 5.3 per cent over the next 20 years, spurred mainly by China, which the Brazilian aircraft manufacturer forecasts to grow at 7.5 per cent.
An Embraer statement said that the growth rate is well above the projected world average of 4.9 per cent and is based on the region's positive economic environment and greater accessibility to the market for new carriers.
According to Embraer, there will be demand for 1,270 jets in the 30-120-seat segment over the next 20 years in the Asia-Pacific region, with a total market value of $42 billion.
The Asia-Pacific region will represent 17 per cent of worldwide aircraft deliveries over the next 20 years, it said. The latest forecast is 25 per cent higher than previous estimates
The company added that efforts to better connect second-tier cities signal good growth prospects for regional aviation in Asia, where fleets are still concentrated on narrow-body aircraft.
"Embraer expects that this fact, in conjunction with an ever-growing need to integrate secondary cities, plus new public policies, will motivate the development of regional transportation, thus creating major opportunities for regional aviation in the coming years," the statement said.
It added that about 50 per cent of the 61-120-seat jets in service in the Asia Pacific region are over 20 years old and should be replaced in the near future.