According to Airbus we’re on a fast track to recovery fueled by the need for $3.2 trillion worth of new passenger and freighter planes over the next 20 years. That’s about 26,000 aircraft, up from the company’s previous projections of 25,000.
Expected to contribute to the pace are eco-friendly planes, growth in new markets, and the expansion of low-cost airlines in Asia.
Over the summer Boeing stated its expectation for $3.6 trillion worth of aircraft over the same timeframe, or about 30,900 new jets.
When factoring in their projections, Airbus considered aircraft 100 seats and above. Boeing’s numbers include planes with 90 seats and above.
Either way, it’s great news for the aftermarket. Growth of the global fleet is always good for MRO.