Embraer's New 10-Year Market Outlook Identifies Trends Influencing the Industry
SÃO JOSÉ DOS CAMPOS, Brazil, Dec. 2, 2020 /PRNewswire/ -- Embraer's newly published 2020 Commercial Market Outlook examines passenger demand for air travel and new aircraft deliveries over the next 10 years with special emphasis on Embraer's product segment - aircraft up to 150 seats. The report identifies emerging trends that will influence growth, factors shaping future airline fleets, and the regions of the world that will lead demand in the commercial sector.
The global pandemic is causing fundamental changes that are reshaping air travel patterns and demand for new aircraft. There are four main drivers:
- Fleet Rightsizing - a shift to smaller-capacity, more versatile aircraft to match weaker demand.
- Regionalization - companies seeking to protect their supply chains from external shocks will bring businesses closer, generating new traffic flows.
- Passenger Behavior - preference for shorter-haul flights and decentralization of offices from large urban centers will require more diverse air networks.
- Environment - renewed focus on more efficient, greener aircraft types.
"The short-term impact of the global pandemic has long-term implications for new aircraft demand," said Arjan Meijer, President and CEO of Embraer Commercial Aviation. "Our forecast reflects some of the trends we're already seeing - the early retirement of older and less efficient aircraft, a preference for more profitable smaller airplanes to match weaker demand, and the growing importance of domestic and regional airline networks in the restoration of air service. Aircraft with up to 150 seats will be instrumental in how quickly our industry recovers."
- Global passenger traffic (measured in Revenue Passenger Kilometres - RPKs) will return to 2019 levels by 2024, yet remain 19% below Embraer's previous forecast through the decade, to 2029.
- RPKs in Asia Pacific will grow the fastest (3.4% annually).
- 4,420 new jets up to 150 seats will be delivered through 2029.
- 75% of deliveries will replace ageing aircraft, 25% representing market growth.
- The majority will be to airlines in North America (1,520 units) and Asia Pacific (1,220).
- 1,080 new turboprops will be delivered through 2029.
- The majority will be to airlines in China/Asia Pacific (490 units) and Europe (190).
For more details, including regional synopses for North America, Latin America, Europe, Africa, the Middle East, China and Asia/Pacific, and the CIS, download the 2020 Market Outlook at www.embraermarketoutlook2020.com
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A global aerospace company headquartered in Brazil, Embraer has businesses in Commercial and Executive aviation, Defense & Security and Agricultural Aviation. The company designs, develops, manufactures and markets aircraft and systems, providing Services & Support to customers after-sales.
Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. On average, about every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.
Embraer is the leading manufacturer of commercial jets up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.
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SOURCE Embraer S.A.