Travel Industry News at TravelNewsAsia.com since 1997. Interviews, podcasts, videos, pictures and more
Thu, 25 February 2021

Southeast Asia to Need 4,400 New Airplanes by 2039

(25 Feb 2021) Boeing anticipates airlines in Southeast Asia will need 4,400 new airplanes valued at US$700 billion to support expanding demand for air travel over the next 20 years.

The intra-Southeast Asian market will become the fifth largest in the world by 2039, and the vast domestic and regional air-travel network across the region positions it well for a post-pandemic recovery, according to Boeings 2020 Commercial Market Outlook (CMO).

With low-cost carriers providing affordable service and added capacity, the CMO projects passenger traffic growth in Southeast Asia to grow by 5.7% annually throughout the forecast period. Through the period, Southeast Asia will become the second largest aviation market in the Asia-Pacific region after China.

Boeing anticipates airlines in Southeast Asia will need 4,400 new airplanes valued at US$700 billion to support expanding demand for air travel over the next 20 years. Twin-aisle airplanes such as the 777X and 787 Dreamliner will remain foundational to Southeast Asias air travel industry. Click to enlarge.

Boeing projects the regions commercial airplane fleet will grow 5.3% annually over the next 20 years. In addition, demand for aftermarket commercial services valued at US$790 billion will help maintain the fleet over the same period.

Southeast Asias fundamental growth drivers remain robust. With an expanding middle-class and growth in private consumption, the regions economy has grown by nearly 70% over the last decade, which increases propensity to travel, said Darren Hulst, Boeing vice president of Commercial Marketing. In addition, governments in the region continue to recognize the travel and tourism sectors as important drivers of economic growth.

While near-term airplane deliveries are impacted as a result of the pandemics effects, Boeing estimates operators will need more than 3,500 new single-aisle airplanes in the region by 2039.

Single-aisle airplanes like the 737 family will continue to drive capacity growth in Southeast Asia, where low-cost-carriers have the highest market penetration globally.

Twin-aisle airplanes such as the 777X and 787 Dreamliner will remain foundational to Southeast Asias air travel industry. Over the next 20 years, nearly one in four twin-aisle airplanes delivered to the broader Asia-Pacific region will go to a carrier operating in Southeast Asia.

Overall, Boeing forecasts regional demand for 760 new widebodies by 2039, enabling efficient replacement and versatile network growth for Southeast Asias airlines. While long-haul market recovery is expected to take longer, Southeast Asias twin-aisle fleet is slated to grow by 55% to 780 widebodies by 2039.

The regions commercial aviation services growth remains promising in the long term. Southeast Asia commercial services are valued at US$790 billion over the next 20 years, a slight increase from last years projection, driven largely by growth in freighter conversions and digital solutions and analytics.

The region is expected to require 183,000 more commercial pilots, cabin crew members and aviation technicians over the forecast period.

Globally, Boeing projects the need for 43,110 new commercial airplanes and the demand for aftermarket services to be equivalent to US$9 trillion over the next two decades. World air cargo traffic is projected to grow 4% annually due to solid industrial production and world trade.

Freighters will remain the backbone of the cargo industry with the need for 930 new and 1500 converted freighters during the same span.

The complete forecast is available in .pdf here.

See latest Travel Industry News, Video Interviews, Podcasts and other news regarding: COVID19, Boeing, Forecast, Outlook.

Headlines: Malaysia Airlines Extends Rebooking Flexibility  Up to 200 Million Tourists Expected to Travel During May Day Holiday in China  Mandarin Oriental Reopens The Ritz, Madrid  Boeing Publishes 2021 Current Aircraft Finance Market Outlook  UNWTO Partners FB to Enhance Digital Marketing Skills of Tourism Destinations  Cora Cora Maldives to Use IDeaS G3 Revenue Management System  EASA Certifies Airbus H125's Power Increase  Promoting Hua Hin Airport and Prachuap Khiri Khan to Regional Markets - Interview  IHG Signs Three Hotels in Japan  EASA and FAA Approve Viasat's Ka-band IFC for Challenger 300-Series  Bangkok Airways Closes Ticketing Offices  France Awards Nguyen Thi Phuong Thao with Legion of Honour  Weilu Wang Joins Four Seasons Hangzhou at West Lake as Pastry Chef  STR Reports Global Hotel Pipeline Data for March  Egyptian Air Force Signs C295 Support Contract with Airbus  Tokyo-Narita Airport Launches Face Express  FlyArystan to Launch Flights from SCO, GUW and NQZ to Kutaisi, Georgia  Air Canada Revises Refund and Future Travel Policies  IBS Software to Upgrade Gulf Air's Falconflyer FFP  Airbus Plant in North Wales Starts Using Sustainable Aviation Fuel  British & Irish Lions Confirm Coaching Team for 2021 Tour to South Africa  United Airlines Encourages More Companies to Join Eco-Skies Alliance  TFE Hotels Appoints Amanda Cottome as GM of A by Adina Sydney  Saudia to Commence IATA Travel Pass Trial on KUL - JED Flights  More Exclusivity, More Benefits - Melia Samui Opens The Level  Luxury Resort in Maldives Buys COVID19 RT-PCR Machine  British Airways Appoints Noella Ferns as Head of Sales - Asia Pacific  Dara Airport City Hotel in Phnom Penh Appoints Weng Aow as GM  Oakwood to Open Four Properties in China This Year  Norway's First P-8A Poseidon Aircraft Moves into Assembly  Japan, Singapore, Germany and South Korea Retain Top Spots in HPI  Accor to Open Australia's Second Mövenpick Hotel in May  Bangkok Airways Waives Rebooking Fees  Onyx Hospitality Opens Group's First Shama Resort  Malaysia Airlines Group to Reduce CO2 Emissions by 25m Tonnes in 2021  Qatar Airways to Launch Sea-to-Air Transfers from Shenzhen to HKIA  Derazona Helicopters Orders Airbus H160 Helicopter  Marriott Partners with Scholars of Sustenance for Rescue Kitchen in Phuket  Tourism Cares Expands Board of Directors  Hyatt Opens First Andaz Resort in Asia  Saudi Arabia Hosts UNWTO's 9th Global Tourism Crisis Committee  Boeing Warns Airlines of Potential Issue with Some 737 MAX Aircraft  BA CityFlyer to Launch Flights to Jersey and Gibraltar from LCY  Emirates to Celebrate UAE's Vaccination Programme with Special Flight  Air Astana Launches Meet & Greet Service at ALA, NQZ and FRA  Embraer Publishes Info on Using Business Jets to Transport Vaccines  Messe Berlin 'Very Pleased' with Inaugural ITB India; Dates Set for 2022  Tigerair Taiwan Takes Delivery of First Airbus A320neo Aircraft  Phoenix Aviation to Promote Hua Hin Airport to Regional Markets  Banyan Tree Signs Second Dhawa Resort in Vietnam  Thai Airways to Operate International Flights to 10 Destinations in April  Airbus and TNO to Develop Aircraft Laser Communication Terminal  Mandarin Oriental Lago di Como to Reopen 15 April  Smiths Detection to Upgrade Heathrow's Cabin Baggage Screening  Thomas Cook Opens Outlet in Varanasi, India  Etihad Airways Launches Flights to Ben Gurion Int. Airport in Tel Aviv  No Indication of a Recovery in Demand for International Air Travel  Singapore Airlines Migrates to Sabre's New Crew Manager Solution  VistaJet Orders 10 More CL350s; Takes Delivery of First Two Global 7500s  Qatar's First Marriott Executive Apartments Open in Doha  Marc Speichert to Join Four Seasons as CCO and EVP  Leslie Chiyoma Appointed GM of Grand Park Otaru in Hokkaido  Global Air Cargo Demand Up 9% on Pre-COVID Levels  Modular Aircraft Wins International Design Award  Steigenberger Hotel Doha Appoints Sherief Abouelmagd as GM  Duetto Appoints Chris Crowley as Senior Vice President of Sales  Singapore to Accept IATA Travel Pass from 1 May  Changi Airport Launches Safe Travel Concierge App  Thai AirAsia Launches Promotion  Salesforce to Upgrade Singapore Airlines' CRM with 1Point  Qatar Airways Operates World's First Fully COVID19 Vaccinated Flight  British Airways Invests in Future of Hydrogen-Electric Aircraft with ZeroAvia  Alaska Airlines Confirms Order for 23 Boeing 737-9 Airplanes  Elbit Systems Completes Acquisition of Sparton  Air Canada Terminates Transat Acquisition  Saudi Arabia Has 73,057 Hotel Rooms in Pipeline  Wharf Opens Stunning Niccolo Hotel in Suzhou, China  Airlines: A Path Back to Profitability  Sabre Launches New Airline Storefront  Vietjet to Resume International Flights  SITA Appoints Martin Smillie as VP Communications & Data Exchange  Embraer Completes Aerial Refueling Trials Between Two KC-390s  Elbit Systems Acquires Rokar from BAE  China Airlines to Launch Taipei - Palau Flights  Emirates Resumes Daily Airbus A380 Flights to Bangkok, Thailand  Willie Walsh Becomes Director General of IATA  American Airlines Offering Quarantine-Free Travel to Italy  Jumeirah Appoints Ermanno Zanini as RVP and GM of Burj Al Arab  Cross Signs Franchise Agreement for Seven Hotels in Japan  Hong Kong Air Cargo Launches Pilot Recruitment Drive  Boeing Awarded US$1.6 Billion Contract for 11 P-8A Poseidon Aircraft  WHO Appoints Carl Bildt as Special Envoy for ACT-Accelerator  Hong Kong Airlines to Trial Lab App Module of IATA Travel Pass  Thailand's Top of the Gulf Regatta 2021 to Take Place in November  World Tourism Organization Outlines Two Scenarios for 2021  TUMI and McLaren Unveil New Collection  Accelya Signs Distribution Agreement with Air France-KLM  Corsair Takes Delivery of First A330-900 Aircraft  Qatar Airways Extends Support of Orbis' Blindness Prevention Programmes  WHO Calls for More Studies into Origin of SARS-CoV-2 Virus  Japan Coast Guard Orders Two More Airbus H225 Helicopters  Thai Airways to Operate Two Flights Between Frankfurt and Phuket  Travellers Need COVID19 Tests to be Convenient and Affordable  Jelena Bojanic Appointed GM of A by Adina Canberra Hotel  Southwest Airlines Orders 100 Boeing 737 MAX Aircraft  TFE Begins Major Expansion with Opening of First Hotel in Austria  Bombardier Delivers 50th Global 7500 Business Jet  British Airways Starts Selling Cook-at-Home Meal Kits  Airbnb Launches What's My Place Worth Tool in Thailand  Qatar Airways Enhances Oryx One IFE with PressReader Partnership  Airbus Launches Travel Companion App - Tripset  United Airlines to Increase Flights in May  IATA Publishes 2020 Safety Report  FlyArystan Takes Delivery of Two More Airbus A320 Aircraft  GKN Aerospace Wins Boeing 777X EWIS Contract  Delta to Launch Flights to Iceland from Three Cities in U.S.A.  Marriott Signs Three Hotels in Saudi Arabia  Sabre Launches Qantas NDC Offers in Australia and New Zealand  Mandarin Oriental New York to Reopen 1 April  Air France Trials ICC AOKpass on CDG - SFO and LAX Flights  Bell Boeing V-22 Osprey Logs 600,000+ Flight Hours  SITA Upgrading Services at Sydney Airport in Australia  Dusit Thani Maldives Hosts Professional Tennis Coach Jerome Becker  Elbit Systems Wins Night Vision Goggles Order from German Federal Police  NDC - Exclusive Interview with Kathy Morgan of Sabre Travel Solutions  Elephant Conservation, Jungle Bubbles and Tourism in Thailand - Interview  IATA Travel Pass - Interview with Vinoop Goel, Director Airports - APAC  How's Business in Pattaya, Thailand? Interview with MD of Tiffany's Show  Will British & Irish Lions' Tour of South Africa Go Ahead?  ASEAN Tourism Forum 2021 Postponed Until January 2022  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS News Feed and Ticker  Travel Trade Shows in 2020 and 2021  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Receive our Latest Travel News Daily Email free of charge by entering your email address and name in the boxes to the right and clicking subscribe. You can also receive the news by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed, and even Add the Headlines to Your Website free of charge. Have questions? Please read our travel news FAQ.

     
Advertising
Advertising
Copyright © 1997-2021 TravelNewsAsia.com