Study of the Indo-China Aviation Market 2017 Executive Summary:
Study of the Indo-China Aviation Market 2017 Executive Summary:
It has been forecasted that over the next two decades, more than 39,600 planes will be needed globally. While close to 40 % of this demand will come from North America and Europe, 38 % will come from the Asia region. The remaining demand is expected to come from the Middle East, Latin America, the CIS, and Africa. Single-aisle planes will form a chunk of this demand followed by wide body airplane.
It is projected that China will become the largest aviation market globally, overtaking the United States by 2024. Total number of air passengers is expected to reach 927 million per annum by 2025 and 1.3 billion by 2035, as compared with 487 million in 2015. In 2010, approximately 268 million passengers travelled by air in China and by 2015, this number had increased by 168 million. It is expected that China will need 6,810 new aircraft and about 248,000 new pilots over the next two decades.
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