MOSCOW/PANAMA CITY: November 20, 2018. According to Airbus’ latest Global Market Forecast, Russia & CIS airlines will need 1,220 new aircraft valued at US$175 billion in the next 20 years – doubling the current passenger fleet from 857 to over 1,700 by 2037.

The aerospace manufacturer expects passenger traffic in the Russia/CIS region to grow at an average 4.1 percent annually as air travel in Russia more than doubles over the next two decades.

The region’s highest traffic growth is expected to be on international routes to Latin America (+5.9 percent), Asia- Pacific (+5.4 percent), Middle East (+5.1 percent) and North America (+4.5 percent).

Latin America air travel is expected to double in the next 20 years as the region’s middle class grows from 350 million people to 520 million by 2037, says Airbus. Currently less than half of the region’s top 20 cities are connected by one daily flight, creating the potential to build intra-regional traffic.

The manufacturer says Latin America and the Caribbean region will need 2,720 new passenger and freighter aircraft to meet the rising demand – meaning the number of aircraft currently operated will rise from 1,420 to 3,200 in the next two decades.

In 2017 Panama City joined Bogota, Buenos Aires, Lima, Mexico City, Santiago and Sao Paulo on the list of Latin America aviation megacities. Airbus expects Cancun and Rio de Janeiro to join the list by 2037, producing an additional 150,000 long-haul passengers daily.

Pictured: Low-cost airline easyjet has ordered an additional 17 Airbus A320neo for delivery by 2023 – bringing its current order to 147, including 30 A321neo, and a total of 468 A320 aircraft to date.