(AP) - Global airlines will need US$3.5 trillion (S$4.4 trillion) of new planes through 2030, with more than a third of that demand coming from Asia, Airbus's chief executive said on Wednesday.
The aviation industry will require 27,800 new planes, each with more than 100 seats, between 2010 and 2030 while Asia will likely take delivery of about 9,370 of those planes worth US$1.3 trillion, CEO Tom Enders said.
'Our business isn't moving to the East, it has moved to the East,' Mr Enders said during a news conference at the Singapore Airshow. 'We're focused on Asia because that's where most of our growth comes from.'
Airbus is wrestling longtime rival Boeing for the burgeoning Asian market. Asia provided half of Airbus's 1,600 firm orders last year.
Boeing scored its biggest deal ever in November when Indonesia's Lion Air agreed to buy 230 planes for US$22 billion.
Asia is expected to account for 33 per cent of global air passengers by 2030, up from a current 28 per cent, according to Airbus.
Europe will likely drop to 23 per cent from 27 per cent and the US will fall to 20 per cent from 27 per cent, Airbus said.
France-based Airbus is the world's largest aircraft manufacturer. Chicago-based Boeing is the second-largest.
source: http://www.straitstimes.com/The-Big-Story/The-Big-Story-3/Story/STIStory_766830.html
The aviation industry will require 27,800 new planes, each with more than 100 seats, between 2010 and 2030 while Asia will likely take delivery of about 9,370 of those planes worth US$1.3 trillion, CEO Tom Enders said.
'Our business isn't moving to the East, it has moved to the East,' Mr Enders said during a news conference at the Singapore Airshow. 'We're focused on Asia because that's where most of our growth comes from.'
Airbus is wrestling longtime rival Boeing for the burgeoning Asian market. Asia provided half of Airbus's 1,600 firm orders last year.
Boeing scored its biggest deal ever in November when Indonesia's Lion Air agreed to buy 230 planes for US$22 billion.
Asia is expected to account for 33 per cent of global air passengers by 2030, up from a current 28 per cent, according to Airbus.
Europe will likely drop to 23 per cent from 27 per cent and the US will fall to 20 per cent from 27 per cent, Airbus said.
France-based Airbus is the world's largest aircraft manufacturer. Chicago-based Boeing is the second-largest.
source: http://www.straitstimes.com/The-Big-Story/The-Big-Story-3/Story/STIStory_766830.html
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