Boeing Outlook Reinforces Asia-Pacific Growth Potential
The COVID-19 pandemic has caused far-reaching changes for the airline and travel industries. But one thing that has not changed is the expectation that global aviation growth will be increasingly driven by the Asia-Pacific region.
Boeing’s latest Current Market Outlook (CMO) highlights – once again – how traffic flows within Asia-Pacific, and between this region and others, will grow in significance over the 20-year forecast period. “So the center of aviation gravity [will continue] to pivot more and more towards Asia” over the next few decades, notes Darren Hulst, Boeing VP-commercial marketing.
While the Asia-Pacific travel sector may be recovering more slowly in the short-term, in the long term it is projected to grow much faster than in any other region, according to Boeing. This will no doubt factor into the strategic planning of a wide range of travel- and aviation-related businesses. Aircraft delivery estimates show that Asia-Pacific will be the key marketplace for Boeing and other manufacturers.
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