Airbus SE sees the Asia-Pacific region needing more than 17,600 new planes over the next two decades as travel rebounds from the coronavirus pandemic and older and less fuel-efficient models need replaced.
About three-quarters of the required jets are likely to be in the smaller category—such as Airbus’s A220 and A320s—the European planemaker said Monday. Cargo planes will also be in high demand, with newer freighters needed to keep pace with a doubling in regional air freight by 2040, Airbus said.
China is likely to be one of the main growth drivers after a long lull related to the country’s zero-Covid strategy, the company said, with India and emerging economies like Vietnam becoming other hotspots.
“We are still hopeful to be able to conclude additional transactions with Chinese customers,” Chief Commercial Officer Christian Scherer told reporters. “There’s a lot of pressure on our friends in China to come to party or run to the risk of not having enough capacity to satisfy their needs.”
While Asia-Pacific was one of the fastest-growing parts of the world for aviation prior to the Covid-19 outbreak, strict and long-lasting border polices have stunted travel. An eventual reopening is likely to be key to the prospects of Airbus and arch rival Boeing Co., which are both getting back on their feet after the pandemic lull.
Airbus sees regional travel reaching 2019 levels between 2023 and 2025, Scherer said. The Asia-Pacific new-plane forecast represents more than 40% of the demand seen by Airbus globally.
Scherer said there could be some large shipping and logistics companies that might be interested in freighters. CMA CGM SA, the world’s third-biggest container shipping line, firmed an order for four A350F planes in December.
Airbus has a target of producing 65 of its flagship A320 family of aircraft a month by the middle of 2023, and aims to reach 75 a month by the middle of the decade.
