Today, Airbus released its Global Market Forecast (GMF) for 2019-2038. The world’s passenger and freighter aircraft fleet is set to more than double from today’s nearly 23,000 to almost 48,000 by 2038 with traffic growing at 4.3% annually, also resulting in a need for 550,000 new pilots and 640,000 new technicians.
Airbus’ Global Market Forecast (GMF) for 2019-2038 offers a forward-looking view of the air transport sector’s evolution – accounting for factors such as demographic and economic growth, tourism trends, oil prices, development of new and existing routes, and ultimately highlighting demand for aircraft covering the full spectrum of sizes from 100 seats to the very largest aircraft over 400 seats.
Entitled “Cities, Airports & Aircraft,” this new forecast – which serves as a reference for airlines, airports, investors, governments, non-governmental agencies and others – anticipates that air traffic will grow at 4.3% annually, requiring some 39,200 new passenger and dedicated freighter aircraft over the next 20 years.
By 2038, of the forecast 47,680 fleet, 39,210 are new and 8,470 remain from today. For the 2019-2038 Global Market Forecast, Airbus addresses aircraft segmentation in the Small (S), Medium (M), Large (L) categories to better reflect the use of aircraft within and between market segments.