Asian middle class growth prompts Airbus to hike 20-year outlook

ASIAN demand has prompted European aircraft maker Airbus to upwardly revise its 20-year forecast for the civil aviation market to US$3.2 trillion, based on anticipation that airlines will take delivery of 26,000 new cargo and passenger planes with more than 100 seats by 2030.

This increases Airbus' 2009 year-end forecast deliveries from 25,000 planes for a total of $3.1 trillion from 2009 to 2029.

Airbus said demand would be driven by the need for more fuel-efficient aircraft as well as by growth in emerging markets, notably in Asia, reported Agence France-Presse.

Expanding Asian middle classes particularly in China and India was the main reason for the revision, Airbus commercial director John Leahy told a press conference in Toulouse.

Airbus American rival Boeing has forecast deliveries of 30,900 planes worth $3.5 trillion between now and 2029.
(Source:www.schednet.com)