Embraer, the world’s largest manufacturer of commercial jets up to 120 seats, has forecast a demand for 13,150 business jets over the next decade, valued at approximately $201 billion (Dh737bn).
In a report, the Sao Paulo-based aircraft maker said world air traffic demand will increase by 4.9 per cent per year from 2008 to 2027, with China presenting the highest growth rate of 7.5 per cent per year. Latin America, Middle East, Asia Pacific, Russia/CIS and Africa will grow at around 5.5 per cent and mature markets, such as North America and Europe, around 4.0 per cent, it said.
Embraer foresees a global demand for 7,450 jets in the 30- to 120-seat capacity segment over the next 20 years, resulting in a total market value estimated at $235bn (Dh862). The firm projects 3,150 aircraft will be delivered between 2008 and 2017, with the remaining 4,300 units to be delivered between 2018 and 2027.
The forecast indicates the 30- to 60-seat capacity segment has reached maturity, but will remain the backbone of the US and Europe hub feeding system and will support the regional aviation development in some other world regions, such as China and Russia/CIS.
The 61- to 120-seat aircraft will continue to help airlines to match capacity to market demand with improved service levels, through the right- sizing of low-load factor narrow-body flights, the natural growth of 50-seat regional jets and the expansion into mid-sized markets.
Need for 13,150 planes over the next decade