Airbus says Asia-Pacific region will be key driver of growth

Airbus claimed bragging rights as the dominant aircraft supplier in Asia-Pacific on Tuesday, saying the region's fast-growing economies and rising passenger demand will continue to drive demand over the next 20 years.

The European plane maker said that in 2013, it won 80 percent of all new business in the Asia-Pacific region with 379 firm orders.

It also delivered 331 new aircraft, or over half of all new planes that entered into service with the region's airlines, it noted.

Speaking at the Singapore Airshow, senior executives from the European plane maker said that they were optimistic about getting more orders from the region's full-service carriers and budget airlines despite ongoing concerns about the health of emerging markets, many of which are located in the Asia-Pacific region.

"The message from me is very clear. This [Asia-Pacific region] is where the action will be for the industry in the coming years," Fabrice Bregier, head of Airbus plane making division, said at a news conference.

There is demand for 11,000 aircraft worth $1.8 trillion in the 20 years to 2032, said Airbus.

The total fleet size is expected to more than double to over 12,130 jets, based on average annual traffic growth of 5.8 per cent and replacement of nearly 3,770 aircraft in service today, it added.

China will also overtake the US as the world's largest domestic airline market by 2032, said Airbus sales chief John Leahy.

Airbus is also looking for more partnerships with companies in the region, said Bregier.

In China, where the company has a final assembly line in North China's Tianjin for the current generation of the A320 family of aircraft, he added there remains the possibility of assembling the upgraded re-engined A320neo variant.

Boeing projected similar figures on Monday.

Growing urbanization means that 25 of the 89 mega cities in 2032 will be in the Asia-Pacific region, where there will also be 90 cities with more than 1 million passengers, it said.