Airbus sees world aircraft fleet doubling by 2032

The Airbus A350 XWB, an energy-efficient new jet, takes off during its second test flight on June 19. Airbus

LONDON Airbus is predicting that nearly 30,000 new aircraft will have to be built globally in the next 20 years, largely to satisfy demand in emerging markets, particularly China.

Unveiling its forecasts through to 2032, the European jet maker says Tuesday that air traffic will grow 4.7 percent annually. That will require over 29,200 new passenger and freighter aircraft, of which 10,400 to replace existing planes. Airbus values the new aircraft needs at $4.4 trillion.

By 2032, Airbus says the worldwide fleet will double to nearly 36,560.

Airbus says there are many factors behind the increase, such as a bigger global middle class, urbanization, migration and tourism.

John Leahy, Airbus' chief operating officer for customers, says that by 2032 Asia Pacific will overtake Europe and North America in terms of traffic.




Live Video

Market Data

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

Market News

Stock Watchlist

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.