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
- Still The World Champions: Team USA Overpowers Serbia, 129-92 To Win 2014 FIBA World Cup [PHOTOS]
- After Win Over Maidana, Mayweather Says He Is Prepared To Negotiate A Fight With Pacquiao
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
- USA Defeats Lithuania, 96-68; Americans Advance To Championship Round Of 2014 FIBA World Cup [PHOTOS]
Join the Conversation
- iOS 8 Release Date Of Sept 17 Has Arrived: Update Begins At 10AM Pacific Time, Upgrade Your iDevices With iOS 7.1.2 First To Install iOS 8
- Pregnant Kate Middleton May Call Off Malta Trip Due To Sickness: Royal Couple Will Move To Anmer Hall Residence
- Why Samsung Galaxy S5 Is Not The Best Smartphone To Purchase Now? If You Still Want To, Wait For A Month To Get It Cheap
- Apple iPad Air 2, iPad Mini 3 October Release Date Roundup: Freshly Leaked Protective Case Debuts Unique Vent Alongside Camera
- Ukraine Crisis: Poland Denies Supplying Weapons To Kiev
- Google Nexus 8 Release Date Countdown Begins Oct 8: 8 Killer Specs and Features to Expect
- Canadian IS Jihadist Wants to ‘Play Soccer’ with Heads of US Decapitated Soldiers