Boeing Projects $770 Billion Market for New Airplanes in Asia Pacific

Boeing detailed its 2005 Current Market Outlook (CMO) for the Asia Pacific region today, forecasting a market for about 7,200 new airplanes worth $770 billion over the next 20 years. Over the forecast period, Asia Pacific is expected to remain the largest market outside North America for new commercial airplanes.

With the continued high rate of growth for Asia Pacific air travel and air cargo markets, Asia Pacific's fleet will nearly triple to about 8,600 airplanes by the end of the forecast period.

According to Boeing's forecast nearly 7,200 new airplanes will be needed for future growth and replacement. Single-aisle airplanes will be the largest category with a total of new airplane deliveries at 3,690 airplanes. Intermediate twin-aisles are expected to comprise approximately 2,430 airplane deliveries, while Regional jets will total 540 units delivered and 747-and-larger size airplanes will be 510 units delivered predicts Boeing.

Between Taiwan and Asia Pacific, available seat miles have doubled since 1990. Most of this growth has been met by increased frequency, which has increased 2.5 times during this period. New markets have developed during this period even faster than frequency growth.

Boeing projects Asia Pacific air travel growth will outpace the world average of 4.8% during the forecast period. Air travel for Asia Pacific's carriers will expand significantly, led by the Chinese domestic market's projected average growth of almost 9%. This incredible growth will nearly triple the Asia Pacific airplane fleet over the next 20 years. Boeing forecasts that air travel within Asia Pacific to grow by 6% per year.

Worldwide, Boeing projects that operators will invest $2.1 trillion for approximately 25,700 new commercial airplanes during the next 20 years.

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