On the opening day of the Singapore Air Show 2018, the new Sales head for Airbus Commercial aircraft Regional Vice President, Eric Schulz presented the market forecast for the next 20 years in the APAC market.
Addressing the media, he said
“Airbus had an excellent year in Asia-Pacific in 2017, and we see more potential in the coming years, in particular in the widebody market, where the region will account for 46% of the total worldwide demand. Airbus is perfectly placed to meet this need, already holding 60% of the widebody backlog in the region and offering the most modern and complete widebody product line, with the A330neo, A350 XWB and of course the A380″
In the year 2017, the company made half of all aircraft deliveries last year in the Asia-Pacific (APAC) region. In 2017, the company also won the majority of the of new business in Asia-Pacific and gained orders for 100 new aircraft from 7 customers.
As per Airbus forecast, the APAC region will witness a 5.6% annual increase in passenger traffic, and there will be a requirement for 14,450 new aircrafts to meet the needs. This means that more than 40% of global demand for almost 35,000 aircrafts worldwide over the next 20 years will be generated in the APAC region.
With a market forecast that passenger traffic will triple over the next 20 years and the high growth in the region, it is unquestionable that Asia-Pacific is on its way to become the world’s largest aviation market and Airbus is not losing sight over maintaining its lead in this region.
Today, A320s make up more than half of all single-aisle aircrafts flying in the region. With ~800 planes flying today and another 350 in the future delivery pipeline, the Airbus widebody family has proven to be successful in the region.
A350-1000 on display at the Singapore Airshow 2018
Keeping innovation at its heart, Airbus shared that the new A350 will be the new long-range leader in the APAC region, where 14 airlines have already booked 287 aircrafts. The A350-1000 that is all set for its first customer delivery shortly to Qatar Airways will further consolidate the A350 position in the APAC market. Airbus will deliver the first A350-1000 in Asia to Cathay Pacific and the first A350 Ultra Long Range aircraft to Singapore Airlines later this year.
High order backlog and an increasing production rate for various aircraft as well as high penetration are the main drivers for significant composite materials demand in the aerospace industry. The author expects a major rebound in the market, especially in APAC region which is observing high demand for aircraft.