Brazil-based major global aerospace group Embraer has released its market forecast for jet airliners with fewer than 150 seats, covering the next 20 years. Globally, the company expects 8 500 aircraft in this category, worth $650-billion, to be ordered between now and 2045. World passenger traffic is predicted to grow at 3.7% a year throughout this period.
“The expansion of advanced manufacturing clusters and regional value chains is generating sustained demand for efficient, high-frequency links between emerging economic centres,” highlighted Embraer Commercial Aviation president and CEO Arjan Meijer.
Zooming in on Africa, the continent will see the third fastest passenger growth rate, at 4.4% a year, over this period. Only China (at 5.2% a year) and the Middle East (4.6% a year) will grow faster; Latin America and the Caribbean will see 4.3% a year growth, followed by the rest of the Asia-Pacific (4.1% a year), Europe (2.7% a year) and North America (2% a year).
Africa’s GDP is expected to grow at 3.9% a year. Embraer expects that relaxed visa restrictions will encourage greater tourism, trade and travel demand. The continent is set for growth, with opportunities for increasing pan-African connectivity and stimulating economic development.
