WASHINGTON (Pakistan Point News / Sputnik - 12th November, 2022) The number of commercial passenger and cargo aircraft operating in the Southeast Asia region is expected to almost triple from the current 1,600 to 4,200 over the next two decades, Boeing announced in its Commercial Market Outlook (CMO) report.
"To meet a projected long-term growth of 5.3% in passenger and cargo travel in the coming years, the CMO anticipates the region's carriers will need more than 4,200 new commercial airplanes over the next 20 years," Boeing said in the report on Friday. "This represents a huge growth in the current size of Southeast Asia's fleet of 1,600 and would make the region the second largest market in Asia."
Boeing said the CMO projected a return to a rapid rate of growth over the next 20 year. The CMO report was released at the Association of Asia Pacific Airlines (AAPA) 66th Assembly of Presidents conference in Bangkok.
"Boeing expects the region's passenger traffic will surpass pre-pandemic demand over the next few years. We continue to expect ... tremendous upward mobility in this emerging region, with nearly 70% of all new deliveries in Southeast Asia serving growth in demand over the next 20 years,"
Boeing Commercial Marketing managing regional director for Asia Pacific Dave Schulte said in the report.
Southeast Asia's current fleet and number of commercial flights have increased more than 50% in 2022 compared to 2019 before the pandemic, the report added.
