Boeing [NYSE: BA] projects a demand for 3,750 new airplanes, valued at $550 billion, over the next 20 years in Southeast Asia.
The company presented its Southeast Asia Current Market Outlook (CMO) today in Singapore, ahead of the biennial Singapore Airshow, forecasting the region will continue its strong annual traffic growth at 6.5 percent.
“Southeast Asia continues to be an important market for Boeing and we expect airlines in the region will need 3,750 new airplanes worth $550 billion over the next 20 years,” said Dinesh Keskar, senior vice president of Asia Pacific and India Sales, Boeing Commercial Airplanes. “In this highly competitive market, airlines are adding capacity and adapting with new business models, such as the growing number of low cost carriers. Boeing continues to offer the most comprehensive, fuel efficient and technologically advanced family of airplanes to meet our customers’ needs.”
The annual forecast projects three-fourths of Southeast Asia’s new deliveries will be for growth, with largest demand for single-aisle airplanes such as the Next-Generation 737 and new 737 MAX. There will also be demand for 800 widebody airplanes such as the 777, 777X and the 787 Dreamliner family. The number of low cost carriers is expected to grow to more than 45 percent of the total Southeast Asian market.
Source: The Boeing Company (NYSE: BA)
Date: Feb 16, 2016