Boeing has forecast that the Asia Pacific region
will rank as the world's largest aviation market over the next 20
years, requiring 8,960 new commercial jets valued at approximately
$1.1 trillion. Asia Pacific is the largest market in the forecast
for new airplanes in terms of both units required and market
"Twenty years from now more than 40% of the
world's airline traffic will begin, end or take place within the
Asia Pacific region," said Boeing Commercial Airplanes Vice
President - Marketing, Randy Tinseth. "That's a big leap for a
region that was not even mentioned in our earliest Boeing market
forecasts back in the 1950s."
Tinseth said between now and
2028, Asia Pacific air travel will grow from 32% of the
world market to 41%.
The Asia Pacific region covers
a broad area including Japan, Korea, China, Australia and India
and currently accounts for more than 8,300 flights and 1.2 million
travelers daily. In less than 10 years, it will be the largest air
travel market in the world, according to the Boeing outlook
released today in Hong Kong. Travel in the region is expected to
grow at an average annual rate of 6.5% over the next 20
"This is clearly a difficult time in the aviation
market, and today's challenges are reflected in the Boeing
forecast, but we do expect the growing Asia markets to lead the
industry into recovery," said Tinseth.
growth in China, India and other emerging Asian nations will
contribute to high demand for single-aisle airplanes. Over the
20-year forecast period, more than half of the deliveries, some
5,600, will be single-aisles. With just 330 deliveries, the%age of the fleet's large category will decrease from 10 to
4% as airlines switch to more efficient mid-size twins and
even larger single-aisle jets. Airlines in the Asia Pacific region
will take delivery of 2,590 twin-aisle airplanes. Regional jet
deliveries will total 440.
The Asia Pacific fleet will
nearly triple from 3,910 to a total of 11,170 airplanes. More than
80% of this demand will be for growth. Delivery of new,
more fuel-efficient airplanes ensures the region's fleets will
remain among the youngest in the world.
also shows the Asia Pacific region as a growth leader in the
long-term global air cargo market, with routes within China,
within Asia and those connecting Asia to other regions outpacing
the global average growth annual rate of 5.4% over the next
"Despite an unprecedented contraction during
2008 and 2009, we remain confident in the strength of the global
air cargo market over the long haul," said Jim Edgar, regional
director, Cargo Marketing, Boeing Commercial Airplanes. "The air
cargo industry is supported by sound fundamentals - the
imperative for speed, consumer product innovation and global
industrial interdependence are key drivers - as well as global
GDP projections of about 3% annual growth."
carriers will add about 750 freighters to the region's fleet to
accommodate growth and airplane retirements, about 27% of
the world requirement - second only to the more mature, but slower
growing, North America market.
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