Connect with us

Business

Boeing says Asian region biggest growth area for aviation in next two decades

Thaiger

Published 

 on 

By Data Leads. PHOTO: Thai Airways Boeing 787

Asian countries are estimated to require 16,930 more airplanes by 2037, making the region the fastest growing aviation area in the world.

Boeing’s annual forecast, the Commercial Market Outlook, reveals that the world fleet of jet planes would need 42, 370 new planes valued at US$6.3 trillion. The forecast predicts that the global demand for commercial aviation services will create a market opportunity of US$15 trillion.

According to Boeing the region operators will demand 40 per cent of passenger jet deliveries in the next twenty years, more than double the amount as compared to other regions.

China will be a key player in Asia that will contribute to Boeing’s growing business in the region. Analysts predict that China’s growing middle class will eventually lead to the country overtaking the U.S. within 10 to 15 years as the largest domestic airplane passenger market in the world. Airplane demands will be highest in the region at 16,930 deliveries valued at US$ 3, 365 billion.

Boeing says Asian region biggest growth area for aviation in next two decades | News by Thaiger

North America is predicted to have second highest demand of airplanes with the requirement of 8,800 deliveries valued at US$1,850 billion. The aviation industry in the region has been experiencing a steady growth in the last few years. Boeing forecasts that the total fleets will increase 44 per cent in the next twenty years.

Europe will be the third highest region in terms of demand of airplanes and estimated profit that it generates. Edging close to North America, the region is estimated to demand 8,490 airplanes in the coming twenty years. The market value is estimated to be US$ 1,240 billion.

Latin America and Middle East will see the demand in fleet deliveries at 3,040 and 2,990 respectively. The market value is estimated to be US$ 360 billion and US$ 745 billion respectively. Russia, CIS and African region will see low demand as compared to other regions. The market value is projected to be US$ 265 and US$ 215 billion respectively.

The Commercial Market Outlook is the longest running jet forecast and considered as the most comprehensive analysis of the commercial aviation industry.

 

Want more from the Thaiger family?

📱 Download our app on Android or iOS for instant updates on your mobile
📧 Subscribe to our daily email newsletter
👍 Like/Follow us on Facebook
🔔 Subscribe to or Join our YouTube channel for daily video updates

Leave a comment below or join the discussion on Thaiger Talk Forums.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *



Read more headlines, reports & breaking news in Thailand. Or catch up on your Thailand news.

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Follow Thaiger by email:

Coronavirus (Covid-19)42 mins ago

Covid UPDATE Sunday: 2,804 new infections and 18 Covid-related deaths

Coronavirus (Covid-19)2 hours ago

With nearly 60% of their population vaccinated, why is Chile’s Covid rate surging?

Tourism14 hours ago

Pattaya October reopening hampered by obstacles

Phuket Sandbox July 1st

days
hours
minutes
seconds

Thaiger is getting behind local businesses for the restart of tourism in July - up to 50% discounts across all advertising packages in June!

Sponsored by image

Coronavirus (Covid-19)14 hours ago

Thong Lor again: 31 arrested in club violating Covid-19 rules

Coronavirus (Covid-19)16 hours ago

Pfizer vaccine application received, review process begun

Visa19 hours ago

Covid-19 prevention leads to 14 arrests of longterm overstays

Coronavirus (Covid-19)19 hours ago

Covid UPDATE: 3,277 new infections and 29 deaths, provincial totals

Thailand20 hours ago

Red tape and restrictions suggest a slow Phuket reopening

Phuket20 hours ago

UPDATE: Tourism Minister reportedly says July 1 ‘sandbox’ won’t happen

Tourism20 hours ago

Koh Samui eyes August 1 reopening, “Samui Sealed Route”

Weather22 hours ago

Village need rain? Have you considered a giant penis?

Coronavirus (Covid-19)1 day ago

Covid UPDATE Saturday: 3,277 new infections and 29 deaths

Coronavirus (Covid-19)2 days ago

8.3% of Thailand’s 50 million vaccine target reached so far

Coronavirus (Covid-19)2 days ago

Site launched for June 14 vaccine signup for all foreigners

Coronavirus (Covid-19)2 days ago

Free quarantine accommodation for arriving Thais to be cancelled

Thailand3 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism3 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket3 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism4 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand4 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism4 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand5 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand5 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand5 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand5 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand5 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand5 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand5 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand5 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand5 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending