Boeing sees Asia-Pacific Fleet Nearly Tripling over 20 yrs
February 10, 2014 3:22 PM EST
Boeing(BA.N) maintained its 20-year forecast for airplane demand at $4.8 trillion, and predicted that nearly half of the world's air traffic growth would be driven by travel to, from or within the Asia-Pacific over the next two decades.
A Qantas Boeing 747 flies past a 767 airplane with a newly unveiled Qantas logo on its tail at Sydney airport, in this file picture taken July 24, 2007. Qantas Airways Ltd put fresh strain on Australia's 'open for business' credentials on December 5, 2013 calling for government support after shocking investors with a loss warning.
Boeing estimated airlines in the Asia Pacific region would need an additional 12,820 jets valued at $1.9 trillion over the next 20 years. It said the fleet would rise to 14,750 in 2032, from 5,090 in 2012.
"Asia Pacific economies and passenger traffic continue to exhibit strong growth," Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes told a media briefing on Monday ahead of the Singapore Airshow.
"Over the next 20 years, nearly half of the world's air traffic growth will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple, from 5,090 airplanes in 2012 to 14,750 airplanes in 2032, to support the increased demand."
Both Airbus (AIR.PA) and Boeing have committed to record production rates for their most popular models, but executives are closely watching the financial turmoil in key aviation markets such as Indonesia and Thailand.
Asia Pacific is home to some of the world's biggest long-haul carriers and budget carriers AirAsia (AIRA.KL) and Lion Air have placed aircraft orders valued at billions of dollars and are among the biggest customers of Boeing and Airbus.
Boeing's data projects that passenger airlines in the region will rely primarily on single-aisle airplanes such as the Next-Generation 737 and the 737 Max, a new engine-variant of the 737, to connect passengers. Single-aisle airplanes will represent 69 percent of the new airplanes in the region.
"New low-cost carriers and demand for intra-Asia travel have fueled the substantial increase in single-aisle airplanes," Tinseth said.
After a record $200 billion of deals at last November's Dubai Airshow, few expect Asian buyers to be ordering in similar quantities - yet the February 11-16 event in Singapore will test the appetite of one of aviation's fastest growing regions.
Most Popular Slideshows
- Derek Jeter With The New York Yankees Through The Years [IN PICTURES]
- George Clooney And Amal Alamuddin's Wedding In Venice: Photos Of Groom And His Family, Friends [Slideshow]
- NFL Recap - Week 4: Green Bay Packers 38, Chicago Bears 17 [PHOTOS]
- Melanoma Could Be Caused By Ageing Genes; Best Diet For Anti-Ageing; Celebrities Who Have Aged Gracefully
Join the Conversation
- Apple Inc (AAPL) Stock Rises Again Despite Bendgate, iOS 8 Bugs; Samsung Stock At Two-Year Low
- Hong Kong Protests Cause Closure Of Banks & Instagram Outages In China
- Federal Court Orders Coles To Hang Signs For 3 Months That It Passed Off Par-Baked Bread As Fresh From The Oven
- Ello Pegged As The Anti-Facebook Social Network
- Forget Nexus 6 Release Date, Android Phones Will Soon Showcase Pure Google Apps & Features
- Boxing News 2014: Social Media War Between Boxers Continues As Pacquiao Repeats Comment That Mayweather Acts Like Uneducated Person, While Ignoring ‘Miss Pac Man’ Post
- Galaxy Note 4 Pre Order Starts in the US, Get Samsung Note Ahead of October 14 Release
- $249.99 Motorola Moto 360 Smartwatch's First Promo Out; 'Stone Leather' Replaces 'Gray Leather' - Available In BestBuy [Watch Video]
- BlackBerry Passport Sold Out As Preorders Reached 200,000
- iOS 8 And iOS 8.0.2 Security Flaw Revealed, Anyone Can Easily Bypass Touch ID And Passcode Security Features
- Australia Cracks Down On International Money Laundering Syndicate