Airlines in Southeast Asia will need to purchase 3,860 new aircraft worth more than US$500 billion over the next 20 years, Boeing has revealed.
Releasing its latest regional forecast at the Association of Asia Pacific Airlines’ (AAPA) 60th annual Assembly of Presidents in Manila, Boeing also stated that carriers in Oceania would require 1,020 aircraft worth US$160bn between now and 2037.
“Southeast Asia and Oceania remain important markets for Boeing as airlines continue to add capacity, modernise their fleets and shift their business models to adapt to this competitive market,” said Dinesh Keskar, Boeing’s senior vice president of sales for Asia Pacific & India.
“While we see the majority of the demand being for single-aisle airplanes such as the 737 MAX, fuel-efficient twin-aisle airplanes such as the 787 Dreamliner and the 777X will also be needed, enabling airlines to profitably open new routes, never before possible.”
The annual report projects that more than 75% of the aircraft needed in both regions will be single-aisle jets such as the B737 MAX and Airbus A320neo. This trend is being driven by the expansion of low-cost carriers, especially in Southeast Asia.
Worldwide, Boeing projects demand for 39,620 new aircraft over the next two decades.