LONDON: July 06, 2018. As Airbus CEO Tom Enders describes the British government as having “no clue” about how to leave the EU without harming the UK economy, the aerospace manufacturer says the world’s airlines will need 37,400 new passenger and freighter aircraft valued at US$5.8 trillion by 2037.

In its latest 20-year Global Market Forecast, Airbus expects traffic to grow 4.4 percent per annum due to a rise in private consumption in emerging economies, higher disposable incomes and a near doubling of the middle classes globally.

Emerging countries will account for over 60 percent of economic growth, with trips per capita expected to multiply 2.5 times for these nations.

Airbus expects 26,540 new aircraft will be needed for market growth and 10,850 will replace older generation less fuel-efficient types as the world fleet doubles to 48,000 airplanes.

“There is a growing trend to use aircraft across a broader range of operations, with today’s more capable aircraft blurring the boundaries between market segments. These realities made us develop a new segmentation with Small, Medium, Large and Extra-Large categories, reflecting more closely the way airlines operate aircraft,” commented Airbus COO Eric Schulz.

Over the next 20 years the manufacturer forecasts a need for 28,550 new aircraft in the ‘Small’ segment, 5,480 in the ‘Medium’ market, 1,760 units in the ‘Large’ segment and 1,590 in the ‘Extra-Large’ market.

The British government has yet to announce how to assure Airbus it will be able to continue building wingsets in the UK after the country leaves the EU.