Boeing has forecast demand for new aircraft in Southeast Asia will reach 3,860 over the next 20 years valued at $565 billion.
The OEM presented its Current Market Outlook for the Southeast Asia and Oceania regions last week at the Association of Asia Pacific Airlines’ 60th annual Assembly of Presidents meeting in Manila.
In the report, it also predicted that the neighbouring Oceana region will see an investment of $160 billion for 1,020 new aircraft up until 2035.
Boeing projected demand would be centered on narrowbody aircraft – expected to account for around 75 per cent of new deliveries in both regions due to a number of factors including an increase in low cost carriers along with growing passenger traffic, currently standing at 6.4 per cent and 4.7 per cent for Southeast Asia and Oceania, respectively.
“Southeast Asia and Oceania remain important markets for Boeing as airlines continue to add capacity, modernize their fleets and shift their business models to adapt to this competitive market,” said Dinesh Keskar, senior vice-president of Asia Pacific and India Sales, Boeing Commercial Airplanes.