Boeing Projects $290 Billion Southeast Asia Market for New Commercial Airplanes
Boeing [NYSE: BA] forecasts that Southeast Asia airlines will need 1,930 airplanes worth $290 billion over the next 20 years. Strong demand for new airplanes will lead to a world fleet with significantly improved environmental performance, according to The Boeing Company’s updated annual forecast for the commercial airplane market. The complete forecast, known as the Boeing Current Market Outlook, is available on the Boeing Web site.
Air travel within Southeast Asia will grow 6 percent during this period, above the world average growth of 5 percent -- compared to China’s 8.8 percent forecasted domestic growth rate.
Deliveries to airlines in Southeast Asia will represent approximately 10 percent of the deliveries measured by dollar value worldwide between 2006 and 2026.
During the next 20 years, deliveries of new airplanes in Southeast Asia will consist of:
* 6 percent regional jets -- less than 90 seats
* 45 percent single-aisle airplanes -- 90 seats and above
* 38 percent twin-aisle airplanes -- 200-400 seats, tri-class, and
* 11 percent airplanes 747-size or larger -- more than 400 seats, tri-class
Combined with the retained fleet and used airplane acquisitions, these new deliveries will more than double and result in a Southeast Asia commercial airplane fleet of 2, 310 airplanes by 2026.
The Boeing Southeast Asia Current Market Outlook projects that single-aisle and twin-aisle airplanes in the 100 to 400-seat categories will account for 83 percent of the regional growth in air travel during the next 20 years.
The Boeing product strategy centers on this growth market, offering a family of airplanes that allows customers to maximize their efficiency, increase profitability and provide the frequency choices passengers want.
“Boeing understands aviation better than anyone else and will continue to provide the right products and solutions for Southeast Asia to sustain growth,” said Randy Tinseth, vice president - Marketing, Boeing Commercial Airplanes. “Taiwan’s carriers operate one of the youngest and most efficient fleets in the world.”
Worldwide, Boeing forecasts a $2.8 trillion market for new commercial airplanes during the next 20 years and projects a need for approximately 28,600 new commercial airplanes (passenger and freighter), doubling the world fleet by 2026. The vast majority of these new airplanes will be in the single-aisle (90 seats and above) and twin-aisle (200-400 seats) categories. The Boeing market forecast is widely regarded as the most comprehensive and respected analysis of the commercial aviation market.
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