Boeing eyes huge Asia Pacific market
Airplane demand in the Asia Pacific region is changing rapidly due to national economic growth, increasing passenger demand, and recently liberalized regulations. A recent Boeing market analysis projects a need for an additional 12,820 airplanes in the Asia Pacific region over the next 20 years. It also forecasts total traffic for the region to grow 6.3 percent per year. “The Asia Pacific fleet will nearly triple to support the increased demand,” commented Randy Tinseth, vice president of marketing, Boeing Commercial Airplanes, during a recent briefing. “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.” Recent structural changes within Asia Pacific airlines allow carriers to expand beyond their typical boundaries. This forecast brings with it promise of an improved air travel system, one that facilitates affordability and accessibility, and stimulates demand for travel within the rising middle class.
More information on the Asia Pacific market forecast can be found here.