Boeing: Southeast Asia air traffic to more than triple by 2043

Boeing reported (19-Sep-2024) the following commercial market outlook for Southeast Asia for the period to 2043:

• Passenger air traffic to more than triple over the next 20 years, driven by above global average economic growth and a rising middle class;
• Passenger air traffic in Southeast Asia will grow at 7.2% p/a, well above the 4.7% global average;
• Southeast Asian airlines will need 4720 new aircraft over 20 years, with narrowbodies making up 80% of projected deliveries;
• Airlines in Southeast Asia will expand their share of the Asia Pacific fleet from 17% to 25%;
• To meet long haul demand, widebodies such as the 787 will make up one in five deliveries in Southeast Asia;
• The region will need more than 120 new and converted freighters to support increasingly diversified global supply chains and growing e-commerce demand;
• Southeast Asian operators will need to hire and train 234,000 new pilots, maintenance technicians and cabin crew, more than tripling the region's active personnel;
• Nearly 1200 new, more fuel efficient aircraft will replace ageing jets in the region over the next 20 years;
• The region's available bio-based feedstocks can supply approximately 12% of global sustainable aviation fuel. [more - original PR]