Production of Freighters to Double by 2031, Airbus Forecasts

Overall, Airbus estimated that the industry will necessitate 28,200 passenger and freighter aircraft, valued at $4tr, by 2031. The Asia-Pacific will lead the world in aircraft demand, accounting for 35 percent of aircraft deliveries, followed by Europe and North America; the latter regions will each account for 21 percent of the projected deliveries, according to the report.

China will be the biggest player in the global aviation market, Airbus forecasted, followed by the U.S., the United Arab Emirates and India. In fact, John Leahy, Airbus chief operating officer of customers, stated, "In 20 years from now, China's domestic passenger traffic will overtake the U.S. domestic traffic to become the No.1 traffic flow in our forecast."

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