AIRSHOW-Boeing sees Asia-Pac fleet nearly tripling over next 20 yrs

Sun Feb 9, 2014 8:59pm EST
 
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SINGAPORE Feb 10 (Reuters) - Boeing maintained its 20-year global forecast for airplane demand at $4.8 trillion over 20 years, and estimated airlines in the Asia Pacific region would need an additional 12,820 jets in that time.

Boeing put the value of the additional jets needed in the Asia-Pacific region over the next 20 years at $1.9 trillion.

"Asia Pacific economies and passenger traffic continue to exhibit strong growth," Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes told a media briefing on Monday ahead of the Singapore Airshow.

"Over the next 20 years, nearly half of the world's air traffic growth will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple, from 5,090 airplanes in 2012 to 14,750 airplanes in 2032, to support the increased demand."

Both Airbus and Boeing have committed to record production rates for their most popular models, but executives are closely watching the financial turmoil in key aviation markets such as Indonesia and Thailand.