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Strong growth expected in Asia-Pacific aviation market

102 Days ago

Singapore: Asia-Pacific will continue to experience stronger growth than any other region in the world as more people fly more often for the next two decades, according to an Airbus spokesperson on the opening day of the Singapore Air Show on Tuesday.

Airbus won 421 net orders from 17 airlines and lessors in Asia-Pacific in 2015, which represented 39 percent of the company's net order intake in 2015, Xinhua cited the group revealing.

In addition, the manufacturer also delivered 282 new aircraft to 40 operators across the region last year, which account for 44 percent of the company's total output, reflecting the importance of the region to the manufacturer.

Talking about the strong growth potential in the coming two decades, John Leahy, Chief Operating Officer of Customers said strong growth of middle class population in Asia Pacific will help boost the expansion of aviation market in the region.

Leahy said 28 percent of the world's population were middle class back in 2004, while the number reached 37 percent in 2014 and will continue to go up to 55 percent in 20 years.

While the population of middle class in Europe and North America keeps flat, middle class in Asia Pacific registered dramatic growth.

"It's the middle class that drives the aviation. They fly for business, for leisure, and they're the ones who are sitting in the seats and fly around the world... The middle-class in Asia Pacific will be driving the world going forward. This is the growth engine that is driving the growth of our industry," he said.

"Asia-Pacific will continue to experience stronger growth than any other world region as more people fly more often," said Leahy.

"Airbus will be especially well placed to respond to this demand in every size category. From 100 to over 500 seats, and for everything from short regional flights to the world's longest commercial services, we have the right products to meet the needs of airlines in this fast-growing market. (IANS)

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