The global aerospace market is expected to grow significantly over the next two decades, driven by demand for fuel-efficient aircraft and sustainable aviation solutions.

The Asia Pacific region is expected to drive global aircraft demand, with China's passenger share expected to grow to 20% by 2040.

Global demand for new aircraft is expected to reach 43,610 by 2040, led by North America at 9,160.

75% of new aircraft deliveries are expected to be single-aisle aircraft, driven by size and flexibility.

The global civil aviation fleet is expected to exceed 49,000 by 2040, with 21% based in the Asia Pacific region.

The aerospace industry is shifting towards efficiency and sustainability through investments in sustainable fuels and electric propulsion.

Sustainable aviation fuels can cut carbon emissions by up to 80%, but are currently more expensive than traditional fuels.

Electric and hybrid-electric propulsion systems are expected to reduce emissions and costs, with companies like Zunum Aero and Boeing investing in them.

The global Hybrid Electric Jet market is expected to reach US$ millions by 2028, with its batteries segment also reaching $ million by then.

The adoption of emerging technologies like electric and hybrid-electric propulsion aims to reduce fuel consumption, noise, and emissions, while increasing efficiency.

The aviation industry is expected to return to profitability by 2023, with $9.7 billion in losses, and grow 3.4% annually through 2040.

Achieving zero carbon targets by 2050 requires greater investment and stakeholder cooperation.

Airbus and Boeing are investing in sustainable aviation fuels and electric propulsion to develop the global aerospace market.

The aerospace industry is expected to experience significant growth over the next two decades, driven by demand for fuel-efficient aircraft and sustainable aviation solutions.

The global aerospace market is expected to grow significantly over the next two decades, driven by demand for fuel-efficient aircraft and sustainable aviation solutions.

Title:

Content: China surging news reported on the 15th, the United States Boeing released the 2021 version of the "Civil Aviation Market Forecast" report on the 14th, noting that basically, the global market is recovering according to the company's 2020 expectations.
The recovery in domestic air travel demand is leading the trend, with the interregional market expected to recover with the relaxation of hygiene and travel restrictions, and eventually remote international travel will return to pre-pandemic levels in 2023-2024.
In the next 20 years, the demand for new aircraft will reach 43,610, the highest in the North American market is 9,160, and the demand in China is 8,700.
The report pointed out that the economic recovery has laid the foundation for a rebound in air passenger traffic, and the future prospects for air passenger traffic will remain stable.
Looking forward to 2025, GDP will increase by more than 15% compared to 2019, and GDP per capita will increase by about 10%.
The 21-year average passenger flow growth from 2019 to 2040 is expected to be 4%, in line with last year ’ s forecast, indicating that the basic global demand for air transport has not changed.
The report predicts that due to cyclical and structural market dynamics, the future air cargo market demand is strong, and full cargo aircraft is a significant growth area, including original cargo aircraft and modified cargo aircraft are forecast to increase from the previous year.
Thanks to the growth of e-commerce and the speed and reliability of air cargo, the world cargo fleet will increase from about 2,000 in 2019 to about 3,400, and the sustainable demand for air cargo will increase the global cargo fleet by more than 70% compared to the pre-pandemic size by 2040.
Notably, the report predicts that the world will need 19,000 civilian aircraft worth $3.2 trillion in the next 10 years, and demand for more than 43,500 new aircraft worth $7.2 trillion in the 20-year period to 2040, an increase of about 500 over the previous year ’ s forecast.
Among them, as of 2040, the demand for regional jets is 2,390, single-aisle aircraft 32,660, wide-body aircraft 7670, wide-body cargo aircraft 890, and aircraft demand totals 43,610.
The North American market has the highest demand, at 9,160, and the Chinese demand is 8,700.
This demand will lead to a 3.1% annual growth in the global active fleet, with the global civil aviation fleet set to surpass 49,000 by 2040, China, Europe, North America and Asia Pacific each accounting for 20% of new aircraft deliveries, with the remaining 20% going to emerging markets.
Traffic disruptions have a significant impact on aircraft deliveries and active fleets due to the pandemic. The report anticipates that the civil aviation industry will need more than 7,500 new wide-body aircraft by 2040 to meet fleet renewal and long-term growth in demand in the remote passenger and cargo market.
These demand increased slightly from the previous year, but decreased by 8% from 2019.
At present, single-aisle aircraft account for nearly 64% of the global passenger fleet, and single-aisle aircraft account for the largest proportion of new aircraft deliveries, roughly in line with pre-pandemic forecasts, accounting for 75%, and demand for more than 32,500 aircraft over the next 20 years.
The report notes that global demand for new single-aisle aircraft is driven by the size and flexibility of single-aisle aircraft.
In the future, these new single-aisle aircraft will continue to promote the development of low-cost airlines and provide the needed alternatives for older, less efficient aircraft.
The three regional markets for the new single-aisle aircraft are Asia Pacific, Europe and North America, which account for more than 80% of global low-cost airline capacity in 2019 and throughout the forecast period.
In addition, the report predicts long-term growth in the short-haul market, especially in emerging markets, and predicts that intra-regional short-haul travel accounts for more than half of the industry ’ s total growth demand, with inbound travel alone accounting for 17% of the industry ’ s new capacity.
Historically, excursions have been spurred by improved services, such as new direct routes and lower fares through low-cost airlines.
The report predicts that the share of Asian airlines in the global market will continue to increase, with China ’ s passenger share expected to grow from 15% in 19 years to 20% in 2040, and Asia Pacific ’ s passenger share expected to grow from 18% in 19 years to 21%.
# Growth # Planes # Forecasts # Future # Markets

What impact shall the carbon tax to be imposed by EU in 2026 have on aircraft market?

It is conducive to the sales of new aircraft with better fuel efficiency.

The Asia Pacific region is expected to drive global aircraft demand, with China's passenger share expected to grow to 20% by 2040.

Global demand for new aircraft is expected to reach 43,610 by 2040, led by North America at 9,160.

75% of new aircraft deliveries are expected to be single-aisle aircraft, driven by size and flexibility.

The global civil aviation fleet is expected to exceed 49,000 by 2040, with 21% based in the Asia Pacific region.

The aerospace industry is shifting towards efficiency and sustainability through investments in sustainable fuels and electric propulsion.

Title:

Content: There were 1,497 press releases posted in the last 24 hours and 458,636 in the last 365 days.

Aerospace Foam Market is Expected to Reach USD 9.7 Billion by 2032, with a CAGR of 6.50% – Report by Market Research Future (MRFR)

Aerospace Foam Market Research Report Information By Material (PU Foams, PE Foams, Melamine Foams, PMI/Polyimide Foams, and Others), By End Use (Commercial Aircraft, Military Aircraft, and General Aviation), By Application (Aircraft Seats, Aircraft Floor Carpets, Flight Deck Pads, Cabin Walls and Ceilings, Overhead Stow Bins, and Others (Aircraft Prototypes, Galleys and Lavatories)), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) – Market Forecast Till 2032

/EIN News/ -- New York (US), June 13, 2023 (GLOBE NEWSWIRE) -- Aerospace Foam Market Overview

Market Research Future (MRFR) states that the "Aerospace Foam Market Research Report Information By Material, End Use, Application & Region - Market Forecast 2032" the Aerospace Foam Market is poised to escalate from USD 5.5 billion in 2022 to USD 9.7 billion by 2032, growing at a 6.50% CAGR during the assessment period (2023-2032). The aerospace foam market is likely to garner significant traction. The continuous expansion of the aerospace industry would create vast market demand.

The aerospace industry harbors the goal of improving fuel efficiency. When labor and operating costs continue to rise, reducing fuel costs can increase profitability and stable competitiveness for passenger airlines. To meet the challenges of rising operating costs and ever-increasing demands for cost savings, enhanced performance, and sustainability, aircraft manufacturers adopt lightweight materials.

Foaming protects materials against abrasion, temperature, moisture, impact, and corrosion. Using foam reduces overall weight, enhancing fuel economy, insulation, sound absorption, and corrosion resistance. The aerospace foam industry is continuously seeking more eco-friendly business practices to minimize their environmental impact in terms of sustainability and cost-effectiveness. The factors listed above allow aircraft manufacturers to reduce fuel consumption.

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The recent upsurge in the unrest surrounding air travel and the rising desire for lightweight, fuel-efficient aircraft are the key market drivers enhancing the market growth. In addition, aerospace foam is utilized extensively as a component of coatings, paints, and adhesives in residential and commercial properties, boosting the market's growth. Governments globally are implementing stricter fuel consumption standards for aircraft.

Key Companies in the Aerospace Foam market include

  • BASF SE
  • Huntsman Corporation
  • Armacell
  • BOYD Corporation
  • Evonik Industries
  • Sabic
  • Rogers Corporation
  • Zetofoams PLC
  • General Plastics Manufacturing Company
  • ERG Materials
  • Among others.

Report Scope:

Report Attribute Details
Market Size 2032 USD 9.7 Billion
Compound Annual Growth Rate (CAGR) 6.50% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Forecast Units Value (USD billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type, Application, and Region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Dynamics Increasing commotion across air travel in recent years and the increasing demand for lightweight and fuel-efficient aircraft

Browse In-depth Market Research Report (128 Pages) on Aerospace Foam:

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Segments

The global aerospace foam market report is segmented into materials, applications, end uses, and regions. The material segment is sub-segmented into PU, PE, Melamine, PMI/Polyimide Foams, and others. The PU foams segment holds the largest market share due to the product's broad range of applications. PU foams are utilized as insulation for aircraft's baggage areas, ceilings, walls, and partitions between class sections & restrooms.

The end-use segment is sub-segmented into commercial, military, and general aviation. The commercial aircraft segment holds the largest market share due to the expanding global air travel. Additionally, the expansion of low-cost carriers increases the demand for foams.

The application segment is sub-segmented into aircraft seats, floor carpets, flight deck pads, cabin walls & ceilings, overhead stow bins, and others (aircraft prototypes, galleys, and lavatories). Of these, the cabin walls & ceilings segment holds a leading market share due to the extensive use of aerospace foam, particularly PU foam, in aircraft chassis.

With the fastest growth rate and largest revenue share, the segment is expected to continue to rise during the projected period. By regions, the aerospace foam market is segmented into the Americas, Europe, Asia-Pacific, MEA, and the rest of the world. North America accounts for the extensive market share, while APAC exhibits the highest CAGR.

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Regional Analysis

North America dominates the global aerospace foam market due to the upsurge in PU foam sales in the region. Besides, high consumer disposable income and luxurious living conditions in the US and Canada boost the aerospace foam market size. The US is a major contributor to the regional market, headed by the increasing aircraft demand across the nation over the last decade. Also, the presence of major aircraft manufacturers in the US substantiates the aerospace foam market revenues.

Europe accounts for the second-largest share of the global aerospace foam market. The vast increase in aircraft demand and overall airplane shipments due to the rising number of tourists visiting the continent in recent years has pushed the regional market demand. Germany holds the largest market share, while the UK is the fastest-growing market for aerospace foams in the region. The European aerospace foam market is predicted to grow steadily during the projected period.

The Asia-Pacific region perceives rapid growth in the aerospace foam market. The steady rise in air travelers and the demand for stronger yet lighter materials to increase aircraft fuel economy in developing nations drive market growth. A major growth driver behind the market growth will be the development of the aerospace industry in China, India, Korea, and Taiwan.

Additionally, increased economic growth has led to stimulated investments in the aircraft industry and increased air travel in the region. China holds the largest share, whereas India is the fastest-growing market for aerospace foams. The APAC aerospace foam market is anticipated to grow during the forecast period.

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Competitive Landscape

There are numerous players operating in the global aerospace foam market. These players lead the market owing to their product differentiation, strategic developments, financial stability, and diversified regional presence. Leading market players are involved in developing awareness campaigns and establishing innovative products, which are predicted to promote the growth of the market.

The players concentrate on supporting research and development. They embrace strategic approaches, such as product development & introduction, joint ventures (JVs), and partnerships, to strengthen their market position and capture an extensive customer base.

For instance, On Jun. 15, 2022, 3A Composites Core Materials announced the acquisition of the TegraCore foam business. TegraCore polyphenylsulfone (PPSU) thermoplastic resin-based foam is lightweight, recyclable, and with fire-retardant properties for complex shapes, which will become part of a portfolio under the name Airex TegraCore.

With its fire-retardant properties, Airex TegraCore foam can meet the requirements of demanding environmental conditions and complex shapes. Airex foam includes products such as Airex R82 and T90 foams, coring for fire, smoke, and toxicity (FST) applications. The acquisition will enhance the already high-end portfolio of 3A Composites, reinforcing its offering and allowing further developments in targeted markets, such as aerospace, marine, and rail.

Prominent players in the global aerospace foam market are Huntsman Corporation, BASF SE, Armacell, Evonik Industries, BOYD Corporation, Sabic, Rogers Corporation, General Plastics Manufacturing Company, Zetofoams PLC, and ERG Materials, among others.

Discover more research Reports on Chemical Industry, by Market Research Future:

Bronze Market Research Report Information By Type (Aluminum Bronze, Phosphor Bronze, Silicon Bronze, Manganese Bronze, Leaded Bronze, Others), By Process (Bronze Casting, Bronze Forging, Bronze Extrusion, Others), By End-Use (Architecture, Marine, Automotive & Transportation, Electrical & Electronics, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

Metal Grating Market Research Report Information by Product Type (Bar Grating and Safety Grating), By Material Type (Carbon Steel, Aluminum, Stainless Steel, Galvanized Steel, and Others), End-User (Water & Wastewater Treatment Industry, Chemical Industry, Oil & Gas, Food Industry, and Others) And Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

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What impact shall the carbon tax to be imposed by EU in 2026 have on aircraft market?

It is conducive to the sales of new aircraft with better fuel efficiency.

What is Airbus doing to achieve sustainable aviation?

It is working on adopting innovative strategies.

It is making efforts to improve aircraft efficiency.

It is investing in sustainable aviation fuel production projects.

What is the main objective of the ReFuelEU Aviation initiative?

To increase demand and supply for sustainable aviation fuel

Sustainable aviation fuels can cut carbon emissions by up to 80%, but are currently more expensive than traditional fuels.

Title:

Content: Active Stocks
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  2. 1,661.9 1.24%
Business News/ Opinion / Views/  Clean aviation will take more than just biofuels
Back

Clean aviation will take more than just biofuels

As prime mover of the Global Biofuel Alliance, India hopes to become a major supplier of sustainable aviation fuel. Whether bio-blends can clean up the sector, though, is unclear

Union minister Hardeep Singh Puri recently said that the Global Biofuel Alliance (GBA) could turn India into a major producer and exporter of sustainable aviation fuel (SAF). He was referring to a class of biofuels that could potentially reduce the climate-harming gas emissions of aircraft by up to 80%, as widely touted. With jet engines burning fossil fuels, aviation accounted for 2% of all carbon exhaust in 2022, a slice that will widen rapidly unless this sector finds a way to decarbonize. Electric planes of jetliner size remain a challenge of technology. They would need very light-weight batteries. As take-offs demand enormous thrust, an airframe design that can get airborne on electric power remains a steep ask. Until key breakthroughs are made, there will be no estimated-time-of-arrival for clean air travel. Hence, the industry’s best bet right now for carbon neutrality is the adoption of SAFs (combined with carbon capture). This is a transition that the GBA aims to accelerate.

The SAF-led path to carbon neutrality, however, is unlikely to be smooth, strewn as it will be with various possible air pockets. Consider SAF supply capacity. Biofuels typically require vast quantities of agricultural produce. Ethanol yielding crops like sugarcane and corn are used for it and their acreage has been increasing across the world. Yet, as it involves a diversion of farm resources away from primary purposes like nutrition, output constraints will kick in sooner than we’d like. Thankfully, other kinds of biomass can be used too. The government has indicated that India’s SAF plans are based on making use of bio-waste—like used cooking oil, forest residue and agricultural and municipal refuse—apart from non-food crops. Even so, feedstock sufficiency will be hard fought. The idea is to start with a blend of very little biofuel—say 1%—mixed with regular jet fuel, and then gradually raise the bio-content as SAF-adapted aircraft come along. According to Puri, even if a 50% mix comes into use by 2030, our domestic needs would be less than half of what the country could make. If so, it would be impressive, but that’s a big ‘if,’ given what all it will take. Right now, SAFs make up barely 0.1% of global aviation fuel consumption. Their long and complex production process makes them far costlier than jet fuel and their low energy density means larger volumes are needed to refuel planes. As with batteries, this is a burden.

Clearly, SAF conversion will require a heavy regulatory push. Globally, this has begun as carbon offsets slowly come into play under the Carbon Offsetting and Reduction Scheme for International Aviation laid down by the UN’s apex body for this sector. Foreign flights run by Indian airlines will have to comply with those norms within half a decade. To this end, we have made a small start. On 19 May, we celebrated a Pune-Delhi AIX Connect flight that used a 1% SAF blend produced locally. This is the direction in which Indian air carriers will be prodded as soon as we have enough of the stuff. The real test of SAFs, however, will come once carbon trading—in a market where companies buy and sell the ‘right to pollute’—assumes significance, wider track records emerge, and all claims are put to rigorous scrutiny. Sceptics abound of their emission-cutting claim of 80% even in a best-case scenario. Whether an SAF shift will actually help clean up aviation won’t be known for many years. The innovations we’ll eventually need might have to focus on aeroplanes more than what goes into fuel tanks.

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Updated: 17 Sep 2023, 07:27 PM IST
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Recommended For You

Electric and hybrid-electric propulsion systems are expected to reduce emissions and costs, with companies like Zunum Aero and Boeing investing in them.

Title:

Content: News

Hybrid Electric Jet Market – Global Outlook and Forecast 2022-2028

The hybrid-electric jet is an aircraft that configures the electric motors and an electric engines. Both electric motor and internal combustion engine add the value in the hybrid-electric jet systems by saving the fuel and also help in decreasing the take-off noise and the carbon dioxide emission levels.

This report contains market size and forecasts of Hybrid Electric Jet in global, including the following market information:

Global Hybrid Electric Jet Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global Hybrid Electric Jet Market Sales, 2017-2022, 2023-2028, (Units)

Global top five Hybrid Electric Jet companies in 2021 (%)

The global Hybrid Electric Jet market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Batteries Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Hybrid Electric Jet include Zunum Aero, Boeing HorizonX, JetBlue Technology, Siemens AG, Airbus SE, Rolls Royce, Lilium, EasyJet Ltd and Wright Electric. etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Hybrid Electric Jet manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Hybrid Electric Jet Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (Units)

Global Hybrid Electric Jet Market Segment Percentages, by Type, 2021 (%)

  • Batteries
  • Solar Cells
  • Gas-powered
  • Ultra Capacitors
  • Others

Global Hybrid Electric Jet Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (Units)

Global Hybrid Electric Jet Market Segment Percentages, by Application, 2021 (%)

  • Industrial
  • Commercial

Global Hybrid Electric Jet Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (Units)

Global Hybrid Electric Jet Market Segment Percentages, By Region and Country, 2021 (%)

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Nordic Countries
  • Benelux
  • Rest of Europe
  • Asia
  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Rest of Asia
  • South America
  • Brazil
  • Argentina
  • Rest of South America
  • Middle East & Africa
  • Turkey
  • Israel
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

  • Key companies Hybrid Electric Jet revenues in global market, 2017-2022 (Estimated), ($ millions)
  • Key companies Hybrid Electric Jet revenues share in global market, 2021 (%)
  • Key companies Hybrid Electric Jet sales in global market, 2017-2022 (Estimated), (Units)
  • Key companies Hybrid Electric Jet sales share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

  • Zunum Aero
  • Boeing HorizonX
  • JetBlue Technology
  • Siemens AG
  • Airbus SE
  • Rolls Royce
  • Lilium
  • EasyJet Ltd
  • Wright Electric

Table of content

1 Introduction to Research & Analysis Reports
1.1 Hybrid Electric Jet Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Hybrid Electric Jet Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Hybrid Electric Jet Overall Market Size
2.1 Global Hybrid Electric Jet Market Size: 2021 VS 2028
2.2 Global Hybrid Electric Jet Revenue, Prospects & Forecasts: 2017-2028
2.3 Global Hybrid Electric Jet Sales: 2017-2028
3 Company Landscape
3.1 Top Hybrid Electric Jet Players in Global Market
3.2 Top Global Hybrid Electric Jet Companies Ranked by Revenue
3.3 Global Hybrid Electric Jet Revenue by Companies
3.4 Global Hybrid Electric Jet Sales by Companies
3.5 Global Hybrid Electric Jet Price by Manufacturer (2017-2022)
3.6 Top 3 and Top 5 Hybrid Electric Jet Companies in Global Market, by Revenue in 2021
3.7 Global Manufacturers Hybrid Electric Jet Product Type
3.8 Tier 1, Tier 2 and Tier 3 Hybrid Electric Jet Players in Global Market
3.8.1 List of Global Tier 1 Hybrid Electric Jet Companies
3.8.2 List of Global Tier 2 and Tier 3 Hybrid Electric Jet Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type – Global Hybrid Electr

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    Similar Reports:

    2022-2027 Global and Regional Hybrid Electric Jet Industry Status and Prospects Professional Market Research Report Standard Version

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Back to top button

What impact shall the carbon tax to be imposed by EU in 2026 have on aircraft market?

It is conducive to the sales of new aircraft with better fuel efficiency.

The global Hybrid Electric Jet market is expected to reach US$ millions by 2028, with its batteries segment also reaching $ million by then.

The adoption of emerging technologies like electric and hybrid-electric propulsion aims to reduce fuel consumption, noise, and emissions, while increasing efficiency.

What does NASA want to do with Boeing in aviation industy?

It wants to build, test, and fly a single-aisle aircraft to reduce emissions before the end of the decade.

What impact shall the carbon tax to be imposed by EU in 2026 have on aircraft market?

It is conducive to the sales of new aircraft with better fuel efficiency.

What is Airbus doing to achieve sustainable aviation?

It is working on adopting innovative strategies.

It is making efforts to improve aircraft efficiency.

The aviation industry is expected to return to profitability by 2023, with $9.7 billion in losses, and grow 3.4% annually through 2040.

Title:

Content: Doha World Air Transport Summit charts path to further recovery
Losses are expected to fall to just $9.7 billion this year.
Recommendations for greater collaboration between parties to achieve sustainability goals
Mustafa Talaat
9: 26 AM, Sunday, 25 Sep 22
“Sustainability, environmental conservation and the road to greater recovery. ”
Words summarizing the most important points discussed by the fourth edition of the International Air Transport Association (IATA) Global Finance Symposium, which was hosted in the Qatari capital Doha this year, with the participation of senior officials and aviation industry experts worldwide.
Al Mal attended the event, which is the largest in the industry since the outbreak of the Coronavirus epidemic at the end of 2019, in which more than 50 officials, experts and leaders representing all aspects participated and discussed the most prominent challenges and financial strategy to advance the future of the industry during the coming period.
The participants described the recent crises in the air transport sector as one of the biggest problems in its history, especially given the complexity of the situation with the outbreak of the Russo-Ukrainian war.
The World Air Transport Association estimated that the sector's losses by the end of this year alone amounted to $9.7 billion, a significant decline as a result of the lifting of travel restrictions, after witnessing a series of losses with the repercussions of the Coronavirus amounted to about $190 billion.
Participants said the sector is likely to return to profitability by 2023, but certainly at lower levels than before the pandemic, pointing out that the high level of corporate debt due to borrowing will remain the biggest challenge for financial managers, especially as companies commit to achieving their zero carbon targets by 2050, which will require greater investment in this aspect and pressure the financial resources of entities.
Participants stressed that the path to sustainability and achieving the industry ’ s goal of zero carbon emissions – Fly Net Zero – will require the cooperation of all stakeholders – airlines, financial managers, employees and government officials.
The seminar was held in the presence and patronage of the Minister of Transport, Jassim bin Saif Al-Sulaiti, and a number of officials. Wali Walsh, Director General of the International Air Transport Association (IATA), and Akbar Al-Baker, Chief Executive Officer of Qatar Airways, also participated in the opening session.
This was followed by dozens of dialogue sessions over the course of two days, in which the most prominent participants were: « Mohammed Bakri, Senior Vice President of Financial Settlement Services at the International Air Transport Association, and Mary Owens Thompson, Chief Economist at the Union ».
In addition to the participation of: Duncan Naismith, Chief Financial Officer of Qatar Airways, Teresa Parejo, Head of Sustainability at Iberia, Eric Soelheim, Chairman of the Financial Advisory Board for Industry, Chief Financial Officer of KLM, Caroline Dreschell, Head of Joint Responsibility at Lufthansa Group, and others.
Wally Walsh, director-general of the International Air Transport Association (IATA), said sustainability in the aviation sector was crucial, but it ran counter to the policy of taxing airlines for failing to commit to cutting carbon emissions.
Mr Walsh said: “Taxes are not particularly used to reduce carbon and therefore add nothing to the environment. ”
He believes that the benefits of preserving the environment are less than the risks of disruption of communication between the world through aviation, predicting that airlines will not see a hydrogen-powered aircraft before 2040 or 2050.
Numerous studies have shown that border closures have done nothing to protect citizens; for example, China ’ s zero-covid policy has lost its position as a global aviation hub.
He pointed out that the current high oil prices will certainly reflect on the prices of airline tickets, expecting companies to return to profitability rates in 2023.
Akbar Al Baker, Chief Executive Officer of Qatar Airways and Chairman of Qatar Tourism Authority, said: “The circumstances of the sector have made us meet more than once in a short time, not long ago we held a General Assembly meeting here in Doha to discuss resilience after the epidemic. ”
“Today, we are focusing on the future of the industry, companies and the entire planet as part of our mission to eliminate carbon emissions by 2050, and airlines around the world are taking serious steps to reduce these emissions. ”
The biggest challenge for the world ’ s aviation industry is political unrest, followed by inflation, fuel prices, employment and infrastructure in later stages.
He explained that the industry went through the Coronavirus pandemic as a major challenge before going through successive obstacles due to high oil prices and manpower shortages, as well as a decline in investment due to restrictions imposed on airlines due to a commitment to support the climate issue.
He pointed out that governments place restrictions on aviation, claiming that it is the main cause of carbon dioxide emissions, although it contributes only 3% of total carbon emissions.
He said that the market lacks human talent in managing the energy sustainability portfolio in the aviation sector, stressing that there is a large role for politicians to help the aviation sector with regard to the climate.
He explained that the oil companies have a great commitment in terms of the production of sustainable aviation fuel (known as SAF), pointing out that Qatar Airways will buy from it if provided at an appropriate price.
SAF fuel is three times more expensive than kerosene and is purchased as a sign of the airline ’ s commitment to mitigating environmental impacts.
Al-Baker stressed that hydrogen and hybrid electric propulsion still have many years to go, making increasing the production of sustainable aviation fuel even more important for the industry.
He said that investment decisions, especially in the field of sustainability, will have a significant impact on the financial affairs of companies in the short and long term and affect their future solvency.
He stressed the need to make huge investments in aircraft and new technologies, which have been hampered by financing in the field of sustainability and environmental solutions due to global regulations.
He said that the years following the coronavirus epidemic are the most successful in aviation history, pointing out that time is still dangerous and we do not know how things will develop as there is a possibility that tourism and travel will be affected by demand processes.
He pointed out that the performance of Qatar Airways was better than most companies, after it succeeded in intensifying its activity quickly and opened new destinations after the Coronavirus pandemic.
He explained that Hamad International Airport in Doha will open next October an expansion that will increase its capacity to 58 million passengers annually in conjunction with the World Cup, pointing out that there is a next phase to develop it to increase its capacity to 70 million passengers by the end of 2025.
Qatar Airways achieved record profits of $1.54 billion in the fiscal year 2021-2022 with total revenues of $14.4 billion, up 78% from the previous fiscal year, and up 2% from the fiscal year 2019-2020 before the Coronavirus pandemic.
Mohamed Al Bakri, Senior Vice President of the International Air Transport Association for Financial Settlement and Distribution Services, said that the real test for the sector is the lessons learned from the crises it has experienced over the past two years through the application of the collective action mechanism.
The industry has been closed for two years, but we have succeeded with hard work, commitment and determination to survive, he said, noting that the aviation sector was the only worldwide corridor for medicines, vaccines, and medical supplies in all countries.
He pointed out that learning from the mistakes of the two years is moving forward positively, and now we look forward to more support from policymakers and try to continue on the road to recovery, especially as the demand for travel continues.
He stressed that the new reality must focus on our customers and their needs, the customer is still the first choice for us, stressing the need to be financially flexible and companies stronger financially.
“We have to be financially able to continue to deliver the benefits and values we have shown because the world needs us, and aviation is no longer a luxury or an option but a necessity for human life. ”
The airline ’ s CFOs are working to rebuild balance sheets after the losses of the past two years by creating capital structures that support the ambitions of the plan to reach zero carbon emissions by 2050 and attract the necessary funding.
He stressed the need for continuous reporting on the environment, in addition to working on the digital transformation and transformation of the retail model of airlines and the impact of all this on the systems and capabilities of the financial departments of the sector.
Mary Owens Thompson, chief economist at the International Air Transport Association (IATA), said the recovery in the travel sector was supporting expectations of a return to 2019 levels by 2024.
Future bookings remain strong, with international bookings accelerating despite continued coronavirus travel restrictions in Asia, particularly in China.
Global gross domestic product (GDP) growth is expected to reach about 3 percent this year, half the growth achieved in 2021, and emerging economies will bear the brunt of the challenges this creates.
“Job growth should help mitigate the impact of rising inflation and interest rates. ”
It sees forecasts of a compound annual growth rate in the sector of 3.4% between 2019 and 2040.
Aviation is a necessary component of economic development and was recognized more than 75 years ago in an agreement signed in Chicago, she said.
Qatar Airways Chief Financial Officer Henk Jan Hogendoorn said geopolitical turmoil was the aviation industry ’ s overriding concern and that it had translated into an economic crisis after rising oil prices and rising inflation as consumers had less purchasing power.
Demand for travel is likely to continue to suffer, but there are still some residual effects of the epidemic as well, most notably the ongoing travel restrictions in certain parts of the world, especially with concern that these restrictions will increase with the advent of winter in the northern hemisphere.
Zoom and other forms of online meetings and conferences had little impact on the crisis, but what is becoming more apparent is the growing environmental awareness that is likely to continue as airlines and the industry as a whole will need to do more to educate the public about the environment.
He stressed that the rise in the value of the dollar will also have an impact on many airlines as they incur more costs, especially in fuel, and therefore the exchange rate has a negative impact on net income.
He predicted that costs will continue to rise, especially in the labor sector, which is poised for a sharp increase, not only because of the shortage of manpower but also because of regulations in force around the world.
He said there had been an increase in interest on investment funds in aviation, with good prospects for rising air freight revenues and a recovery in travel traffic.
Daniel Culver, market participation officer at Platts, an energy data provider, said: “With sustainable jet fuel as a key component of an airline ’ s cost base, hedging will be vital to avoid negative impacts from these companies appearing on their balance sheets.
He pointed out that airlines hedge to secure their profit margins and protect against losses, making financial planning more accurate and difficult.
He added that the difference between the price of crude oil and jet fuel is expected to remain high throughout 2023, after reaching record levels during the epidemic period as producers changed levels of jet fuel production during those periods.

Achieving zero carbon targets by 2050 requires greater investment and stakeholder cooperation.

Airbus and Boeing are investing in sustainable aviation fuels and electric propulsion to develop the global aerospace market.

What impact shall the carbon tax to be imposed by EU in 2026 have on aircraft market?

It is conducive to the sales of new aircraft with better fuel efficiency.

What is Airbus doing to achieve sustainable aviation?

It is working on adopting innovative strategies.

It is investing in sustainable aviation fuel production projects.

What is the main objective of the ReFuelEU Aviation initiative?

To increase demand and supply for sustainable aviation fuel

The aerospace industry is expected to experience significant growth over the next two decades, driven by demand for fuel-efficient aircraft and sustainable aviation solutions.

What impact shall the carbon tax to be imposed by EU in 2026 have on aircraft market?

It is conducive to the sales of new aircraft with better fuel efficiency.

What impact shall the carbon tax to be imposed by EU in 2026 have on airlines?

They will accelerate the demand for aircraft replacement.