Paced by China, commercial air traffic demand in the Asia Pacific region will grow faster than any other region in the world over the next 20 years, according to a new market forecast released by Embraer here this week.
The Brazilian maker of regional airliners expects Asia Pacific to grow at an annual rate of 5.3 percent and China at a rate of 7.5 percent. It projects 4.9 percent growth for the rest of the world.
Embraer foresees a demand for 1,270 jets in the 30- to 120-seat segment from 2008 to 2027 in the Asia Pacific region and China, or an estimated total market value of $42 billion. Broken down into 10-year periods, the forecast shows delivery of 610 aircraft in 2008-2017 and 660 in 2018-2027.
Embraer’s forecast suggests that demand in the region will run at a rate 25 percent higher than it predicted in previous reports. The Asia Pacific region and China will represent 17 percent of worldwide aircraft deliveries over the next 20 years, according to Embraer.