Boeing projects US$770 Billion Market for New Airplanes in Asia Pacific

Boeing detailed its Current Market Outlook for the Asia Pacific region Tuesday, forecasting a market for about 7,200 new airplanes worth US$770 billion over the next 20 years. Over the forecast period, Asia Pacific will remain the largest market outside North America for new commercial airplanes.

With the continued high rate of growth for Asia Pacific air travel and air cargo markets, Asia Pacific's fleet is expected to nearly triple to about 8,600 airplanes by the end of the forecast period.

Nearly 7,200 new airplanes will be needed for future growth and replacement. Single-aisle airplanes will be the largest category with total new airplane deliveries at 3,690 airplanes. Intermediate twin-aisles will comprise approximately 2,430 airplane deliveries. Regional jets will total 540 units delivered and Boeing forecasts that 747-and-larger-size (Airbus A380) airplanes will be 510 units delivered.

Thailand is expected to become a major regional air transportation gateway in the Asia Pacific region with the new multi-billion baht Suvarnabhumi Airport scheduled to finally begin operations in June.

Boeing projects passenger traffic within Asia Pacific to grow 6% per year, outpacing the world average of 4.8% during the next 20 years. This robust air travel growth will cause Asia Pacific carriers to expand significantly, resulting in the high regional demand during the forecast period.

Worldwide, Boeing projects that operators will invest $2.1 trillion for approximately 25,700 new commercial airplanes during the next 20 years.

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