Boeing has forecast that over the next 20 years,
Southeast Asia’s airlines will require more that 2,100 new
airplanes valued at approximately US$330 billion.
Commercial Airplanes Vice President of Marketing Randy Tinseth
shared the company’s market data and forecast on Tuesday at a
media conference focused on the global and Southeast
Asia commercial airplane markets. Globally, he said, airlines will
need 29,000 new airplanes through 2028, valued at US$3.2 trillion.
“It is encouraging that 27% of our 20-year forecast
already is on order,” Tinseth said. “Equally important is that
this backlog is well balanced – by type of airplane, by airline
business model, and region of the world.”
that as of the third quarter of 2009, Boeing had a backlog of
3,400 airplanes, valued at US$254 billion.
Airlines and the
aviation industry in general have been hurt by a challenging and
volatile business environment, Tinseth said. The world economy has
been in recession, passenger and cargo traffic have declined and
fuel prices are volatile. Global recovery to the 2008
peak won’t occur until perhaps 2010, he said.
“But data indicates that the
economic downturn has reached bottom and recovery has begun,”
Tinseth said. “However, global recovery will be a long, slow
Asia, air traffic growth will outpace economic growth,” Tinseth
said. “Air travel growth over the next 20 years is expected to be
above 6.5%, while the region’s economy is projected to grow
Looking at the Asia Pacific region in its
entirety, long-term annual air traffic growth is projected to be
6.9% over the next 20 years, Tinseth added.
volumes in Asia Pacific overall are large and growing rapidly,”
Tinseth said. “Asia Pacific will account for 41% of travel
in 20 years’ time, up from around 32% today. In fact, in
less than 10 years, Asia Pacific will easily be the largest air
travel market in the world.”
See other recent news regarding: