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|A Boeing factory in Washington (Photo: Shutterstock)|
Hanoi - Boeing said on February 25 that airlines in Southeast Asia will need 4,400 new airplanes valued at 700 billion USD to support growing demand for air travel over the next two decades.
According to the Boeing's 2020 Commercial Market Outlook (CMO), the intra-Southeast Asian market will become the fifth largest in the world by 2039, and the vast domestic and regional air-travel network across the region positions it well for a post-pandemic recovery.
The CMO projected passenger traffic growth in Southeast Asia to grow by 5.7 percent annually throughout the forecast period. Through the period, Southeast Asia will become the second largest aviation market in the Asia-Pacific region behind China.
Boeing also forecast that the region's commercial airplane fleet will grow 5.3 percent annually over the next 20 years. In addition, demand for aftermarket commercial services, valued at 790 billion USD, will help maintain the fleet over the same period.
It also estimated that operators will need more than 3,500 new single-aisle airplanes in the region by 2039.
Globally, Boeing projected the need for 43,110 new commercial airplanes and the demand for aftermarket services to be equivalent to 9 trillion USD over the next two decades.