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Boeing forecasts USD200 billion market for 1,250 new aircraft in Northeast Asia

19-Oct-2011 9:00 AM

Boeing projects (18-Oct-2011) 1,250 new airplanes will be delivered to Northeast Asian carriers valued at approximately USD200 billion over the next 20 years. Details include:

  • Orders for growth: According to Boeing, two-thirds of Northeast Asia’s projected 1,250 aircraft deliveries will be for growth. With more than 110 aircraft already on order, the airlines of Korea are truly poised for grow, Boeing said;
  • Fleet increase: Taking into account airplanes set to retire, Boeing forecast that the fleet in Northeast Asia will increase from 690 airplanes today to 1,520 in 2030;
  • Aircraft types: Northeast Asia is a big market for twin aisle and large aircraft, Boeing noted. These aircraft account for around 45% of the region’s demand for aircraft in terms of units and almost 70% in terms of value. Boeing also forecasts single-aisle aircraft will account for 46% of new aircraft deliveries to the region. The demand for single-aisle airplanes is driven by the growing number of low-cost carriers providing intra- and inter-regional service.  [more - original PR]

Boeing: “The combined effect of liberalisation and rapid economic growth is driving passenger traffic in the region. In Korea, Incheon International Airport serves as a major hub in the region and the Korean peninsula is perfectly situated between Japan and China – allowing it to continue as a gateway to key markets in Asia...Air travel in Northeast Asia is expected to grow moderately at 4.3 percent annually over the next 20 years. Korea’s dynamic economy as well as the nation’s thirst for air travel will fuel growth for the region," Randy Tinseth, Boeing Commercial Airplanes Vice President of Marketing. Source: Company Statement, 18-Oct-2011.