UAC Estimates Volume Of Passenger Aircraft Market At $6 Trillion Over Next 20 Years

United Aircraft Corporation (UAC) on Tuesday said in its outlook that it estimated that the world's passenger aircraft demand would surpass $6 trillion over the next 20 years and come to almost 44,000 new planes.

MOSCOW (UrduPoint News / Sputnik - 06th November, 2018) United Aircraft Corporation (UAC) on Tuesday said in its outlook that it estimated that the world's passenger aircraft demand would surpass $6 trillion over the next 20 years and come to almost 44,000 new planes.

"UAC estimates the total demand for new passenger aircraft with more than 30 seats in 2018-2037 to exceed 43.6 thousand aircraft worth over US$6 trillion in 2018 catalogue prices ... The annual passenger turnover rates during 2018-2037 will grow by 4.6% per year," the company said in its forecast, presented at AirShow China 2018 in Zhuhai, China.

The analysis showed that narrow-body aircraft with a capacity of more than 110 seats would be in significant demand among airlines and account for 68 percent of the whole market and 56 percent of the market in terms of value.

According to the outlook, the total demand for wide body aircraft will be almost 8,000 aircraft. About 4,000 new jets with a capacity of 30-110 seats will be sold, which would amount 3.1 percent of the total catalog of all new passenger aircraft. The demand for turboprop aircraft is expected to be about 2,200 aircraft.

AirShow China, the largest aviation industry exhibition in the region, has been held since 1996 under the aegis of the State Council of the Peoples Republic of China and the Ministry of Civil Aviation.