Air travel in Asia-Pacific to account for nearly half of global air traffic by 2040: Boeing – Japan Today
Gleams Akihabara 703
Tel: +81 3 5829 5900
Fax: +81 3 5829 5919
Email: [email protected]
©2021 GPlusMedia Inc.
Boeing has estimated that air travel within Asia-Pacific markets will account for nearly half of global air traffic by 2040, driving 20-year demand for 17,645 new airplanes valued at $3.1 trillion.
To support its commercial aviation industry, Asia-Pacific countries will also require aftermarket services valued at $3.7 trillion.
The forecasts are part of Boeing’s 2021 Commercial Market Outlook (CMO), the company’s long-term forecast of demand for commercial airplanes and services.
The Asia-Pacific region has diverse air travel markets, including mature economies in Northeast Asia and Oceania as well as rapidly growing aviation markets in China, South Asia and Southeast Asia.
With travel recovery enabled by rising COVID-19 vaccinations, Boeing believes that Asia-Pacific carriers are well-positioned to capitalize on recovering business and leisure travel as well as air cargo transportation.
“We have seen strong resilience in Asia Pacific traffic when restrictions are lifted and passengers feel confident about travel,” said Darren Hulst, Boeing vice president of Commercial Marketing. “Carriers with efficient and versatile fleets will be positioned to meet passenger needs and air freight demand with airplanes that reduce fuel use, emissions and operating costs.”
Boeing’s CMO analysis addresses 20-year demand for the five regions within Asia Pacific:
Southeast Asian countries seeing rapid economic growth will also see fleet growth and passenger traffic well above global averages. Low-cost carriers are forecast to expand intra-regional networks with single-aisle jets, while open skies and trade agreements will enable carriers to invest in fuel-efficient widebodies to serve long-haul routes. Southeast Asia is forecast to need 4,465 new airplanes valued at $765 billion and commercial aviation services valued at $790 billion by 2040.
In Northeast Asia, mature economies will continue to support a balanced air travel market across domestic, regional and long-haul travel segments. Fleet replacement will account for nearly 75% of new deliveries as airlines look to improve sustainability and fleet versatility. The region is expected to need 1,385 new airplanes valued at $310 billion as well as services valued at $555 billion in the next 20 years.
The 2021 CMO includes these projections for Asia Pacific through 2040:
Single-aisle jets will account for nearly 13,500 deliveries, about three-quarters of demand in terms of units. Widebody jets including passenger and cargo models will total nearly 3,800 airplanes.
The cargo fleet will more than triple to 1,160 airplanes, including new and converted models, to support diversifying global supply chains and meet e-commerce demand. The Asia Pacific cargo fleet is expected to roughly equal North America’s cargo fleet by 2040.
Tied to economic and fleet growth, demand for maintenance, repair, overhaul and modifications account for a majority of projected commercial aviation services demand. Digital solutions, analytics and training services also will support the Asia Pacific fleet.
Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.
A mix of what's trending on our other sites