China to become biggest aviation market, say Airbus bosses

THE biggest growth in the aerospace sector will come from the Far East in years to come, with China set to become the number one market, according to the bosses at Airbus.

One hundred years after the first plane for paying passengers took to the skies, the manufacturer has been forecasting the future direction of the industry.

Today, 32 million flights carry three billion passengers and 50 million tonnes of freight a year. Globally the aviation sector's economic impact is estimated at £1.5 trillion annually.

Airbus' global market forecast predicts the growth will continue at a healthy rate.

The firm predicts passenger traffic will grow annually at 4.7 per cent driving a need for around 31,400 new passenger and freighter aircraft (100 seats and above).

The passenger and freighter fleet will increase from today's 18,500 aircraft to 37,500 by 2033, an increase of nearly 19,000 aircraft. Some 12,400 older less fuel efficient passenger and freighter aircraft will be retired.

That should be good for Bristol's world-leading aerospace cluster, although the fastest growth will come from emerging markets such as Asia, Latin America, Africa and the Middle East. Already carriers such as Ethiad and Qatar are among the biggest customers for the soon-to-be-ready A350 XWB.

Airbus chief operating officer John Leahy said: "Aviation is growing impressively and our latest forecast confirms its long term growth.