Asia continues to drive new aircraft demand
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The Asia Pacific region continues to drive global demand for new aircraft, according to a new report.
In its latest Current Market Outlook (CMO) report, which forecasts new aircraft deliveries for the 2014-2033 period, Boeing has predicted that airlines in Asia Pacific will need 13,460 new jet aircraft over the next 20 years – 36.6% of the global market.
The total worldwide demand of 36,770 new aircraft marks a 4.2% increase compared to the US planemaker’s previous forecast, increasing the total value of new aircraft to US$5.2 trillion.
“This market is strong and resilient,” said Randy Tinseth, Boeing’s vice president of marketing. “With new and more efficient airplanes entering service, the growth in air travel is being driven by customers who want to fly where they want, when they want.”
After Asia Pacific, North America will be the second biggest market for new aircraft, with a projected demand for 7,550 jets. Europe (7,450), the Middle East (2,950) and Latin America (2,950) complete the top five.
And demand will be fuelled by the single-aisle jet market, such as the Boeing 737 and Airbus A320 models, mainly due to the rapid emergence of low-cost carriers. A total of 25,680 new single-aisle aircraft are expected to be needed in the next 20 years, comprising 70% of the total forecast.
“Based on the overwhelming amount of orders and deliveries, we see the heart of the single-aisle market in the 160-seat range,” said Tinseth. “There’s no question the market is converging to this size, where network flexibility and cost efficiency meet.”
Boeing also forecasts that 8,600 new twin-aisle aircraft, such as the Boeing 777, 787, Airbus A330 and A350, will be needed, while 620 very large aircraft (Boeing 747, Airbus A380) will also be required.
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