Asia-Pac will need 14,450 planes worth US$2.3t over next 20 years

Singapore

The Asia-Pacific will need some 14,450 new planes valued at US$2.3 trillion over the next two decades as passenger traffic in the region is set to triple to make it the world's largest aviation market, Airbus projects.

With passenger traffic in the region slated to expand at 5.6 per cent annually, outstripping the global average of 4.4 per cent, the Asia-Pacific fleet will grow from 6,100 planes today to nearly 17,000 in twenty years.