07 Mar '11, 8am

Asia to emerge biggest aircraft market by 2029: Airbus

Asia to emerge biggest aircraft market by 2029: Airbus

HONG KONG: Asia will emerge as the world's biggest aircraft market by 2029, accounting for a third of worldwide plane deliveries as the middle class drives demand, Airbus has said. The European plane maker also said it was experiencing surging Chinese demand for corporate jets and that sales to Chinese buyers could approach levels in the Middle East. Worldwide, air traffic is set to double over the next 15 years, with the Asia-Pacific region set to overtake North America and Europe as the largest air transport market, taking delivery of about 8,560 new planes worth $1.2 trillion by 2029, Airbus said. That figure will represent about 33 per cent of world deliveries, up from the region's 26 per cent share between 1990 and 2009, Airbus said as it released its Asia-Pacific Market Forecast. "Asia Pacific will lead this air traffic by 2029," Chris Emerson, the firm's senior vice...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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