Airbus bullish on jet market over 20 years
Airbus unveiled a bullish long-term forecast for the global aircraft industry but said its share of new orders by value shrank to about 36% this year from 45% last year, as rival Boeing Co. grabbed more sales of mid-size and larger jets.
The European plane maker’s biennial market outlook, released Wednesday, predicted demand for 22,700 aircraft worth $2.6 trillion over the next two decades, a significant increase from its 2004 forecast of 17,300 planes worth $1.9 trillion for the 20 years to 2023.
Airbus Chief Operating Officer John Leahy said much of the new demand was seen coming from the Middle East and emerging markets such as China and India -- where the arrival of low-cost airlines is expected to multiply growth in air travel among an expanding middle class.
“This is a growth industry, no matter how you slice it,” Leahy said at a London news conference.
Chicago-based Boeing Co. is on course to win more orders than Airbus this year for the first time since 2000. Toulouse, France-based Airbus last month doubled, to two years, the estimated production delay affecting its super-jumbo A380 to two years, denting the company’s credibility among customers and prompting a $6.1-billion profit warning by parent EADS.
