The Spanish aviation industry is expected to nearly triple in size over the coming 20 years, which will create a demand for 415 new passenger aircraft with a combined total value of $45 billion, according to Airbus' latest Global Market Forecast.
Airbus presented its Global Market Forecast for Spain in Madrid on 15 April. The meeting examined the Spanish aviation industry's projected growth between 2007 and 2026, as detailed in Airbus' latest Global Market Forecast report.
Airbus currently has 175 A320 Family aircraft, four A310s and 46 A330/A340s operated by eight airlines in Spain, with a backlog of 29 aircraft still to be delivered.
Over the next 20 years, the long-haul international air travel market in Spain is expected to nearly triple in size, while short-haul and intra-regional traffic is expected to double. Consequently 415 new passenger aircraft - 310 single-aisle, 80 twin-aisle and 25 large aircraft - will be required, with a combined value of $45 billion.
Laurent Rouaud, Airbus Vice President Market Research and Forecasts said that Spanish air travel has grown by 83 per cent since 2000. Domestic flights increased by 50 per cent and international flights demonstrated an 89 per cent growth.
He added that Spain to would continue to enjoy sustained economic growth over the next five years and anticipated that future expansion in air travel could present capacity problems.
"There currently are 64 million annual seats offered, but airport capacity remains the same," he explained. "So there is a possibility of more delays at hub cities in the future."
The low cost carrier market, which represented less than three per cent of all scheduled flights between Europe and Spain in 1996, now accounts for more than half (53 per cent) of all traffic on these routes. This figure is expected to continue to increase over the forecast period.
And, by 2020, it is predicted that Madrid will have 15 daily flights operated using large aircraft to destinations such as New York's JFK airport, Mexico and Miami. International markets will be further stimulated by an immigration surge, resulting in a demand for more than 400 new passenger aircraft over the next 20 years.
Read the feature stories on Airbus' Global Market Forecast for the following countries/regions:
complete 2007-2026 Global Market Forecast